You must have Life Insurance !!

tag:blogger.com,1999:blog-6507959347687500495.post-48437008451216227492008-03-12T07:00:00.003-04:002008-07-26T09:40:07.511-04:002008-07-26T09:40:07.511-04:00You must have Life Insurance !!<a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="http://www.usask.ca/alumni/gfx/1_plannedgiving.jpg"><img style="margin: 0pt 10px 10px 0pt; float: left; cursor: pointer; width: 171px; height: 211px;" src="http://www.usask.ca/alumni/gfx/1_plannedgiving.jpg" alt="" border="0" /></a>One thing none of us want to think about is our own deaths. Beyond the fact that we’d no longer be able to experience life, we can also leave our families with huge obligations. From loans, mortgages to more complex expenses that our passing would force our families and loved ones to cope with; doesn’t it make sense to have protection? Even if you have <a href="http://www.fool.co.uk/credit-cards/credit-cards-comparison.aspx" rel="nofollow">credit cards</a> and mortgages to think of , For most people life insurance makes a lot of sense that said the most important question after that is how much does a person need. In order to establish this you would need to first work out the total impact financially of a person dying would actually have on the family or business relationships that they may have. Other than the need to cover funeral expenses most people do contribute greatly to the overall family expenses whether it is a bread winner providing the money to buy the food and heat the house or the person that stays at home providing the labor for the housework and looking after the family such as cooking etc. All this needs to be replaced in one way or another such as employing a nanny or a housekeeper. All this has an impact on the families’ budget in the event of death. Life insurance is a protection against unforeseen events. None of us plan on passing on, yet random occurrences happen every day. Because these events can happen and people are counting on you, both for emotional support and for what you can bring to any sort of commitment; it’s important to make sure that they will be protected against anything that could happen to you. In today’s world, chaos and unpredictability abound, in ever more chaotic situations, stability is paramount, and life insurance can provide that stability even after - especially after - an unforeseen passing. Life insurance can save you money as well, by covering expenses related to the funeral itself - often in excess of 7,000 - you can use that money for investing or for recreation. And if you don’t have that money? That’s an even better reason to have life insurance. Having to produce the 7,000 for a funeral, in addition to other liabilities might be passed on is a huge burden that can force loved ones out of their home and cause horrific amounts of chaos. Property, the estate of those who die, can be heavily taxed, as much as 55% and is worth reading about inheritance tax. But life insurance can alleviate further problems and stop your inheritors losing out to taxes. None of us want to pass on and as traumatic as our passing might be, responsible planning can prevent our friends, family and loved ones from going through financial grief at our passing. We won’t always be around to protect them, but we can allow them to get on with their lives without paying our liabilities. The cost of life insurance is low; the cost of not having life insurance is astronomical.I recommend Term Life Insurance. You can read more about it in my post <a href="http://www.everythingfinanceblog.com/2007/12/i-need-life-insurance-ok-but-what-kind.html">I need Life Insurance! Ok, but what kind ?</a> <a href="http://feeds.feedburner.com/EverythingFinance">If you like my post, subscribe to My Feed</a><div class="blogger-post-footer"> ©2008 Copyright by <a href="http://www.everythingfinanceblog.com" title="Everything Finance">Everything Finance</a> Useful Links: <a href='http://www.linkconnector.com/traffic_affiliate.php?lc=020881002313003143";' rel='nofollow' target='_blank'>How to Raise Your First Million Dollars!<img border='0' height='1' src='http://www.linkconnector.com/traffic_record.php?lc=020881002313003143' width='1'/></a></div>Everything Financehttp://www.blogger.com/profile/11908288985581925996noreply@blogger.com3