Is your current amount of life insurance enough? How do you know?
For most folks, talking about life insurance sounds almost as fun as a visit to the dentist. But, like that trip to the dentist, ignoring it can compound a relatively small issue and turn something that was merely uncomfortable into a complete nightmare. In the current economy where we are all looking to cut costs, it may be time to rethink exactly how much term life insurance coverage you really need.
If you are considering cancelling an existing policy, you might want to consider these 7 mistakes people make with their life insurance before you do.
1. “I’m all set for life insurance!”According to a recent Allstate Insurance survey of middle income Americans, most respondents felt that people should have some level of life insurance, but thought that it should only be enough to cover existing debt and funeral costs. Surprisingly, roughly 20% felt that term life insurance should replace the income of the deceased for the surviving family’s sake. Continue reading ‘7 Deadly Mistakes To Avoid when Buying Term Life Insurance’ »