You may ask yourself, why do I need life insurance? If you’re healthy, don’t participate in any high-risk activities, and have no family history of illness, why “bet” on dying by paying for life insurance? The reality is, if people depend on you, financially speaking, whether its children, your spouse, or elderly parents, you can’t afford to go without life insurance.
While it might be depressing to think about the end, the upside of having a solid life insurance policy is the financial guarantee for your family if the unthinkable happens. But before you go out and buy the first policy you encounter, you’ll need to learn how the industry works, how to identify the right policy for you, and how to shop around for the best possible coverage. A life insurance policy is not a financial decision to take lightly. For instance, you might not need the kind of policy an agent wants to sell you; you might be better suited investing on your own or buying a very basic policy. The Simple Dollar has made differentiating what does and doesn’t matter when it comes to your life insurance a much less intimidating process.
This guide is structured to educate both newcomers to the life insurance field and people who already have a policy and are looking to keep it up to date or convert it into a better long-term investment to help consumers leave behind a healthier financial legacy.