It isn't unusual for people to make mistakes when buying life insurance. Think about it. How often does the general public buy life insurance? If you have life insurance; how long has it been since you bought that policy? What has happened to the purchasing power of that policy? What will it buy in today's dollars?
My point is... THE MAJORITY OF AMERICANS ARE GROSSLY UNDER INSURED; but why are they under insured?
Let's answer that question with a better question. "How much life insurance would you want, if it were free?" Did you respond; "as much as I could get?" That's how I'd respond!
All too often, I see situations where families are in jeopardy, because they have too little of the wrong kind of insurance. Now, there certainly is a place for permanent insurance...meaning Universal life or Whole life...and there are many situations where permanent insurance is most appropriate. (When?...that's a later post.)
So what should be the first consideration when purchasing a life insurance policy. "Buy as much term insurance as the insurance company will sell to you!" This will approximate your HUMAN LIFE VALUE.
To be continued...stay tuned for more on "Why Human Life Value"... Thanks for visiting
Like me, because you are building your financial future, you naturally want to know it is secure. Begin your insurance journey by framing your security on a foundation of term life insurance. You can get started by visiting my website www.jamesrichard.com
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