Some Common Questions About Life Insurance
I have life insurance at work so why should I buy more?
Employer sponsored benefit programs are an excellent way to provide added security for yourself and your family, but remember, these group benefits are tied to an employer. If you should leave that employer, you will also leave those group benefits behind. It is a good idea to personally own some amount of life insurance.
How much life insurance do I need?
The answer to this question will depend on what kind of financial impact your premature death will have on others. What is your “financial worth” to your family and/or your business? An insurance review by a professional life insurance agent can help you determine your life insurance needs.
I have health problems, can I buy life insurance?
Probably. This would depend on the nature of your health condition. Some life insurance companies will accept certain health conditions at a higher insurance premium than they would charge someone in excellent health. There are also “guaranteed issue” life insurance policies designed for people who cannot quality for a standard policy. You should contact a professional life insurance agent.
What are the tax advantages of life insurance?
Generally, life insurance proceeds paid to a named beneficiary are received income tax free.
I’m single so why should I buy life insurance?
Obviously, even single people have final expenses when they die. Another question you would want to ask yourself is - Do I intend to always be single? If you are in good health, it would be a good time to plan ahead on your life insurance program.
Should I buy life insurance on my children?
This question is asked a lot. There is a post on this subject at -
Is Life Insurance On Children A Good Idea, please read.
How much will life insurance cost me?
There are several factors used to determine the cost of life insurance, including age, sex, tobacco use, height and weight, occupation and general health condition. The initial premium for term life insurance will be less than permanent life insurance. The frequency of premium payments will also affect the total cost of life insurance. The only real way to know what it will actually cost is to get a life insurance quote.
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November 1, 2007
Buy life insurance or not, oftentimes a hard decision to make. I already have life insurance at work - why do I need more? I’m single, why do I need life insurance? Some of your questions are answered here. 
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