Check your finances once a year to make sure your money is being invested well and that you have enough life insurance. We've all read the articles and brochures, but because the product changes and people's needs change, it's always a good idea to check that your life insurance is working for you. Life insurance is a big part of how much money a person has. Your investments should be treated the same way.
Do you have insurance for your life at work?
Group life insurance is a common benefit at work. Most of the time, it covers health and disability insurance. As many people are involved, it's a great deal for how much it costs. One thing to think about, though, is that the policy can't be moved. If you switch jobs, you can't take your policy with you, and if your health changes, it might be hard to get the same coverage.
Insurance plans for individuals
As was already said, being able to take your policy with you is one of the most important benefits of owning life insurance. You are paying for something that you already own. You can choose the type of policy, how long it will last, and who it will help.
Choices for life insurance policies
Life insurance is for people who have financial obligations after they die that their savings won't be able to cover. Since this is important and not everyone is in the same situation, there are different types of life insurance policies to choose from. Depending on your needs, you can choose between term life, whole life, and term to 100 policies, where the premiums stay the same.
How much life insurance do you need?
How much life insurance you need is another thing you need to figure out financially in 2007. This would depend on how much debt you already have, how much money you expect to lose if one spouse dies, and how much you spend every day. Think about inflation, because you will need more money to be as comfortable as you are now.
Check your finances once a year to make sure you're paying for the right amount of life insurance for you and your family. Talk to a broker who works on their own to make sure you have the right life insurance.
