First of all, let’s get one simple truth out of the way right now … it’s not a pleasant thought, but it is a necessary one: Life insurance is about what a person is going to leave to his or her heirs after he or she dies (and that “what” means m-o-n-e-y). But, life insurance can be much more than that; in fact, life insurance can be a way to build up a personal fund that you may use yourself BEFORE you die.
Buying life insurance can be very confusing because, today, you have so many choices. If you’ve ever thought about “What is the best type of life insurance to own,” the simple and best answer is “The type of life insurance that is in force on the day your heirs need it!” That may sound like some salesperson’s quick retort, but it is really The Truth!
However, most Americans have many, many other questions bouncing around in their minds when they get around to giving serious thought to buying life insurance.
The 8 questions below are both “technical” and “non-emotional.” But, underneath, there are “emotional” and “real” questions that deserve truthful answers to help you decide what to do to protect your heirs (family or others) financially upon your death.
Here's 8 life insurance questions you need to ask yourself before you make a decision:
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