Tuesday, September 30, 2008

Permanent Life Insurance

This article by Susan Roberts discusses permanent life insurance and why you should make it part of your estate planning. This article was written for dentists but it contains great advice that could be appropriate for anyone.

When it comes to estate planning, some people put it off much longer than they should. Other people think a will is enough to have them properly covered. The truth is you also need to have a proper permanent life insurance plan in place. It’s not even enough to just have life insurance; you need to also have the right type and the proper amount of coverage.

Here are some things to consider to help you choose proper permanent life insurance:

Compare the different types of life insurance available
Calculate how much life insurance you really need
Compare term and permanent life insurance

This article talked about why permanent life insurance is a good option for some people. While Canadian term life insurance also has its many advantages to many people, only you can make the decision about what is best for you.

Permanent life insurance is important for estate planning. Here are some of the reasons:

Helps your family cover taxes due at deaths
Helps cover funeral and other arrangements
Helps pay off debts so that your heirs receive the inheritance you intend for them to
Allows you to leave money to a charity with tax advantages
And more

While term life insurance is good for younger people, singles and families just starting out, it usually ends past age 65 or age 80. This is one reason it is not beneficial for estate planning. Weigh all the considerations and you can choose the best life insurance plan for you.


Anonymous Anonymous said...

My friend and I were recently talking about how involved with technology our daily lives have become. Reading this post makes me think back to that discussion we had, and just how inseparable from electronics we have all become.

I don't mean this in a bad way, of course! Ethical concerns aside... I just hope that as the price of memory drops, the possibility of uploading our brains onto a digital medium becomes a true reality. It's one of the things I really wish I could encounter in my lifetime.

(Posted on Nintendo DS running [url=http://will-the-r4-r4i-work.wetpaint.com/]R4 Card[/url] DS SerVo)

February 06, 2010 4:50 PM  

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