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need for life insurance
D
efining your needs is the first step towards Life insurance policy planning.
The major factor here is identifying whether a risk exists. If you have no
dependants, then the chances are you don't need Term-life quotes or an insurance
agent. However, if there are people who rely on your income, then life insurance
should be a priority.
The amount of Term Life Insurance quote is dependent on your personal, as well as
financial, situation and needs. Life Insurance Cheap can assist you in determining
what amount of life insurance is appropriate for you under the various types of existing
life insurance policies . Generally, you should consider life insurance if:
- You have a spouse
- You have dependent children
- You have an aging parent or a physically challenged relative who depends on you for support
- You own a business
- Your retirement savings / pension are not enough to insure your loved ones from the rising cost of living
- You have a estate planning needs
If you become unable to work because of any unforeseen circumstances, such as
serious illness or injury, some of the Life insurance policies will help protect
you and your dependants from the financial burdens of loss of income. Another
important feature of life insurance is that no income tax is payable on proceeds
paid to beneficiaries.
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