Buying Life Insurance
When you buy life insurance, you want coverage that fits your needsand your budget.
Decide how much you need,
for how long and what you can afford.
Examine what kinds of policies are available
to meet your needsand pick the one that best suits you.
Compare what different companies charge
for the same kind of policy and amount of insurance you want.
Finding a Low Cost Policy
Do premiums or benefits vary from year to year?
How much cash value builds under the policy?
Are premiums, benefits or interest rates guaranteed or subject
to change by the company?
What is the effect of interest on money paid and received at
different times on the policy?
Good Life Insurance
A good life insurance program does more than just replace theloss of income that occurs if you die. It should also provide money to coverthe new costs that arise after your death — funeral expenses, taxes, probatecosts, the need for housekeepers and child care, and so on. And these cashbenefits should provide for your family's future needs as well, includingcollege education for your children and part or all of your spouse'sretirement needs. In almost all cases, your beneficiary can use the cashbenefits in the way he or she sees fit, without restriction.
Estimating Your Life Insurance Requirements