by Jim Franklin and Evelyn Trimborn
No one ever wants to think about their own death, but planning for it carefully can make a real difference financially for the family you may have to leave behind. It will be difficult enough for your family having to cope with bereavement without adding money problems to the situation.
If you have a family or people dependent upon you for support, one of the most loving things you can do for them is to take out life insurance in case the unthinkable should ever happen. And life insurance is not just for working husbands either. Single mothers and work-at-home parents also need to consider seriously how their family would ever cope if they were to pass away suddenly.
In this beginner’s guide to buying life insurance, the authors take you step-by-step through the process to offer you an overview of the process of buying life insurance, who needs it and why.
You will learn:
* The different kinds of life insurance policies available
* The pros and cons of each
* How to calculate how much insurance coverage you need
* How to use your insurance policy as a financial tool even if you do not pass away.
You will also discover:
* The various payout options for life insurance policies
* How survivorship life insurance works
* How insurance can be used as a valuable business tool in certain instances
* How certain types of insurance policies can be very useful for estate planning.
Buying life insurance is not the most cheerful of subjects to think about, but your family’s financial security rests on you making the right decisions to help protect your future.
If you are:
* Not insured yet
* Fear you may be underinsured
* Want to have more financial tools in your hands to build your wealth
then get started on the road to better financial security today with the help of this guide.
PLUS a 27-page PDF Overview of the main points of this guide for you to download, print, and discuss with your partner/spouse and insurance broker.
TABLE OF CONTENTS
* Why Buy Life Insurance?
* Who Needs Life Insurance?
CHAPTER 1: SHOPPING FOR LIFE INSURANCE
* How Much Life Insurance Should You Get?
* How to Calculate What Money Your Family Will Need in the Event of Your Death
CHAPTER 2: TYPES OF LIFE INSURANCE
* Term Life Insurance
* Whole Life Insurance
* Universal Life Insurance
* Variable Life Insurance
* Survivorship Life Insurance
CHAPTER 3: HOW TO USE YOUR LIFE INSURANCE POLICY AS A FINANCIAL PLANNING TOOL
CHAPTER 4: LIFE INSURANCE PAYOUT CHOICES
* Lump Sum Payment
* Annuity Payments
* Annuity Payment Options
ABOUT THE AUTHORS
Jim Franklin and Evelyn Trimborn are two of the main writers and editors for the popular business and finance website InsiderSecretsCorp.com, and the authors of over 50 step-by-step guides in the Business Matters and Money Matters series from Eternal Spiral Books. Their goal is to help you live well and get the most for your money.