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Six Degrees of Separation meets Pay it Forward.
See how the power of these two concepts can be used for a world of good.
www.Daniel-Gutschenritter.com
Life Insurance Information
Life Insurance
Life insurance is, without a doubt, the most important element when implementing your long-term financial gameplan. Any individual who has dependents, whether they be a spouse, children, or other family members, needs to own insurance.
Why? Life Insurance is particularly important if you are the sole source of income for your family. If you were to die unexpectedly, the loss of you and your income could devastate your family. The appropriate amount of life insurance will ensure that if anything happens to you, your loved ones will be able to manage financially.
But a word of caution, don’t ignore life insurance if you are the ’stay-at-home’ spouse. Your value to the family will include child care and many other functions which will potentially become ‘paid’ functions if you are gone.
Though it is called “life insurance,” what you are being insured against is your untimely death. In most instances, the benefit will only be paid out if you die. Some forms of life insurance policies accumulate a cash value - and this would be the only exception in which you could receive a ‘benefit’ from a life insurance policy without dying. However, the cash value is many times less than the death benefit, and life insurance is essentially a savings plan and insurance rolled into one.
Many life insurance policies carry restrictions around the circumstances of your death. For example, if you were to commit suicide within two years of your policy being placed in force, your loved ones will not receive any death benefits.
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