Many people find it difficult to identify with the fact that their family should have life insurance now. How many stories did you hear about someone who lost a loved one and have financial problems as a result? How many times have you heard of charitable events to help the family after they lost a family member? You only die once, so learning from experience is definitely not an option here.
There are certainly a percentage of people who do not need life insurance, however, if your death puts others in danger, then you need life insurance now!
single parents
If you are a single parent is certainly need life insurance now. Who will provide for my children when I die? Be sure you are writing to you as a guardian of the child when you die. Does this person wants to provide for your child when you die? Be clear with the person accepting this responsibility. You do not want your child to take care of someone who feels like they are obligated to do so. Does your child caretaker for the funds to support your child when you die? Cost of child care can be a big blow for someone who is experienced in the situation. Make sure you have enough insurance to your child and their caregivers do not have to suffer.
Stay-at-home parents or homemakers Just because you have no earned income does not mean they do not give a financial value for your family. How many day care cost? The cost of day care can be equivalent to full time. How much home maintenance, laundry, food shopping, cooking costs for the service? Most of these tasks can be completed by the Stay-at-home parent without financial costs. There is only so much time in the day and the loss of a parent creates an uncomfortable situation in which two parents duties must be completed by a parent. This is the time required to complete these additional tasks that need to be purchased through services such as kindergartens, shopping, laundry, and housekeeping.
couples
If you are married, you and your spouse have a greater likelihood of living a lifestyle that relies on both their income. If you are married with children, it is more likely to be the case. Do not count on savings such as IRAs and 401 (k) s, because if you do then that will be used to retire? If you want your spouse to suffer financial pain on the top of the pain you lose, you get life insurance.
parents of children with disabilities
If your child requires a specific / special state concern, you definitely need life insurance to ensure that child when you die. You have to consider that if both parents are gone, your child may need to be cared for in a home. If you disable the child received state assistance after the age of majority (18 or 21) and they still need special care, then you should definitely consult a lawyer who specializes in estate planning for children with disabilities. Many people do not understand the specifics of this situation and after death, the assets directly to the family of a disabled child. Being a disabled child now owns all of its assets, they May not be eligible for state assistance. Fortunately, there are special trusts that can be put in place to avoid this situation.
entrepreneur
If you died tomorrow, would your business still be profitable? If your business is entirely dependent on the intangible value that gives you, how you expect your business to continue without you? Your business could be worth nothing without you. Do you plan to sell your business if you die? If so, you already have a buyer on the site? Selling a business can take months or even years, can take your family for so long without a catch? Is your family will be fairly compensated selling your business? Think about it, if you were buying the company from the family because the owner / head Honcho has just died, would offer them full price or will you offer them pennies on the dollar? May you be putting your family into a state of despair in which they can lose all the value you've built the business over godina.Životno insurance paid will give your family the flexibility to do what they need to do to get a job through your groin death. Whether you are selling business, business continuity, and closure of business, key here is to give your family the flexibility required to fulfill your wishes.
There are many factors that will cost your family / loved one's money when you die. Be sure to review all of these factors and make sure you have the appropriate amount of life insurance in place so that your family is able to spend their inheritance when they die. Want to leave your family with the freedom of choice and when you die or do you want to leave your family with a long-term financial burden when you die? After all you will only die once.
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