There are a number of questions that are often asked by people who are considering taking out life insurance and we will be looking at some of them, giving short and clear answers that are also going to be as factual as possible.
Question #1: Do I need life insurance?
Answer #1: This is quite a difficult question to answer as there are so many factors coming into the picture here that we would need to be psychic in order to answer this question properly. There is only one clear situation where you do not need life insurance. That is if you have amassed quite a lot of money that will cover any expenses that you leave behind you and if you are also single and without anyone depending on your income for their livelihood.
Question #2: Is it better to take out term or permanent life insurance?
Answer #2: Once again, we cannot give a clear-cut answer to a question and this time it is even more difficult. Namely, there are people for whom term life insurance will be the perfect solution, people who wish to save money and senior citizens for whom it is a better option. However, permanent life insurance has its perks that more than justify the higher premiums. All in all, you will need to ponder this question extensively and comprehensively before you decide.
Question #3: Why should I get life insurance?
Answer #3: finally a question that we can answer with ease. Life insurance is security. You are getting peace of your mind for a set amount of money and that is the kind of peace of mind that nothing else can get you. You know that the people you love and care about are going to get money in case you leave them prematurely. You might think that it is small consolation, but in fact, not being afraid for their livelihood will make you sleep tighter and it will also help them cope with the loss because they do not need to waste money and their mental powers on trying to scrape by.
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