Should You Buy Life Insurance? Depends on You Situation
By: Henry Fleet
At some point in everyone's life they begin to consider longer term plans such as buying life insurance. Some already have it through the workplace and wonder if it is enough, while others still yet consider the tax benefits and the costs versus the benefits. Some wonder if being single they need to buy life insurance coverage at all, but for every question there is in fact a reasonable answer. We'll explore a few of those in this. Often, people who are single do not think that they need life insurance, however nothing could be further from the truth. Even if you intend to remain single- someone's going to have to pay the expenses when you die. Also, do you really intend to remain single or can you say that will always be the case? It is always better to be safe than sorry. Another question that gets asked alot is why, if someone has life insurance through the workplace, would they purchase an outside plan. The answer is as easy as looking towards the economy and current unemployment rates. You may not always have the job that you do now, even if you love it. Being able to make sure that you still have coverage even once you leave the job and its group plan behind are very important and carrying your own policy is always a wise choice. The next questions usually involve cost- firstly people want to know how much insurance they should purchase and how much it is going to cost them. This is one of those things that has many variables. For instance, if you are a smoker, your gender, age and other physical factors play a role in cost, however, going over your goals and your financial data with a professional life insurance agent will help you to determine how much you are going to need. Coming in on the heels of this question, are the tax benefits. Usually, the tax advantage is that the benefits are paid to the designated beneficiary are tax free. Another thing that worries many are health related issues, many fear that they will be unable to obtain life insurance due to health problems. Generally, life insurance companies will accept these cases at a higher premium than they would than if someone is in perfect health, or they may suggest a guaranteed issue policy. Generally speaking the best way to have all of your questions about any sort of insurance is to talk to someone who is licensed and able to answer those up front. Usually a licensed and professional agent will be more than happy to sit down with you and answer any and all questions you may have about health, home, life and auto insurance. Before you make the
appointment, it is always a good idea to sit down and make a list of the various questions that you may have for the agent so that you are certain you are not leaving anything out. If you are looking for an independent life insurance provider in the state of Florida, particularly the Orlando or Clermont area, visit Life Insurance Clermont to get the best rates and honest help with your requirements from Southern Insurance. You can also get great rates at Life Insurance Orlando.