Think about making life insurance a big part of your portfolio of investments. Yes, you did read the words "investment portfolio" correctly. Having good to excellent life insurance is an important part of investing in the future, just like saving for your kids' college, your retirement, or your next big trip to Las Vegas.
Have you ever wondered what will happen to you if you go to sleep early? What will happen to your family, your hopes, and your dreams? Life insurance gives you peace of mind that your family will do well even if you die (hey, it was bound to happen). You don't have to die with everything you've done to give your family a better future.
First things first, before you start getting quotes for life insurance, you need to figure out how much coverage your family needs. Do you have a number in mind? Now you have to figure out how much money you can spend on the life insurance. Rates and premiums for life insurance vary. Compare life insurance policies to decide whether to buy permanent or term life insurance. And don't forget to look into each life insurance company that gives you a quote for coverage.
Getting life insurance for your children is another important financial decision that should be in your portfolio of investments. When a parent dies, life insurance for children protects both the parent (that's you) and the child. Most children's life insurance policies can be turned into permanent coverage when the child turns 18. This is life insurance coverage that your child can count on when he or she is big and strong.
When it comes to life insurance, women get a special treat: their premiums are higher. Because men live longer than women, they usually pay less for life insurance. Men get a higher policy benefit while paying a premium that is the same as or, in some cases, less than what women pay.
The premium goes up the longer the term, so it is smarter to buy term life insurance that is renewed every year. There are also life insurance plans for seniors that are made just for them.
Compare life insurance rates and quotes from at least four different companies to make sure you're getting the best deal. Read the details of each policy you are offered. Make sure you buy the best insurance you can afford with the most money going to you. Saving money on the next tank of gas is like getting money from heaven, if not a little cheap, but saving money on life insurance doesn't help you or your family. Protect the future you are planning and saving for by adding life insurance for you and your family to your investments.
