Even if the financial world leaves you feeling a little lost sometimes, there are definitely plenty of resources out there to help educate you. This week, there were a bunch of articles posted on the Web about life insurance. So, we’ve compiled a few of the best posts to help you decide whether you should be purchasing a policy.
A recent State Farm survey noted that over 34% of Americans feel that life insurance is essential and likened it to the ‘main course’ in their financial plan. About 18% felt like it was a dessert that they just couldn’t afford, 16% thought of it as an appetizer for when you’re starting out, and 8% thought it was a passable side dish (like vegetables - good for you, but just not necessary). To help you determine where life insurance should fit in your ‘meal,’ Enemy of Debt offers some questions you can answer to see how you view insurance plans (and whether you should buy a plan).
The State Farm survey also cited that 4 in 10 people buy a new policy when a life event has occurred (like getting married, having a baby, or buying a new home). Fabulously Broke writes about how these big life changes can impact your finances and your future plans. So, if you’re making any big life decisions soon, read this post to help you decide if you should be purchasing an insurance plan.
Free From Broke’s post helps break down all of the nuances of life insurance, including why you should you purchase it and what type of plan you should get. Some of the reasons for buying a policy include income replacement for your dependents or spouse, to pay off debts or expenses, as an inheritance, and savings for college. Check out this blog before you purchase a plan to make sure you’re buying the perfect policy for your needs.
This post from Modest Money helps to explain the differences between a term life insurance policy and whole/permanent life insurance. If you’re unsure what type of plan to purchase, read this article to see if term life insurance is the right option for you and your family.
Confused about life insurance? These blogs will definitely clear up any questions you might have!