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Why is it important to have life insurance?

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Why is it important to have life insurance ? The plan simple fact is that one day you will die. You will either leave your family with a money or you won’t. A life insurance policy can relieve your family of financial stress during the difficult time. Those of us still struggling to keep on the road toward financial freedom will put our families in an even worse situation if we don’t have plan ahead. A life insurance policy will not replace you but it is a gift your can leave behind for your family.

Dave Ramsey recommends term life insurance policies because they offer the most money after death as well as the lowest monthly payments. Dave Ramsey also recommends a 20 or 30 year term. If you have “savings plan” type policy (Universal Life, etc) cash it in and get a Term Life policy. Life insurance policies are not a good savings plan.

You might be thinking, what happens after the twenty or thirty years? The idea behind using a term life insurance policy verses other types is that with in the 20 or 30 years you should be gaining financial freedom. You should be out of debt, have a retirement plan, house paid off and gaining monetary wealth by long term investing.

Visit lifeinsure.com for quote on term life insurance policies. LifeInsure.com offers an easy to use life insurance quotes calculator. You can get a full explanation of term life insurance or you can watch the video they have available. Don’t waist your time with any other type of life insurance policy, term life is the best.

July 18, 2007 | Filed Under Life Insurance, Paying The Bills- Sponsored Ads 

2 Responses to “Why is it important to have life insurance?”

  1. Carin on November 20th, 2007

    Term life insurance can be a great way to insure your mortgage. It’s usually much cheaper than the bank mortgage insurance, and allows you to name the beneficiary (the bank names itself). The value of your term life policy remains constant throughout the term as well, whereas bank mortgage insurance usually only covers the current balance owed. Talk to your broker about this option.

  2. Goodbye to my Universal Life Insurance from Hartford mutual - My Investing Blog on December 27th, 2007

    [...] with that. But I’m out from under that umbrella now and am totally onboard with Suze and Dave Ramsey in the insurance [...]

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