Here's everything you'll want to read if you can't make up your mind about life insurance - Business Insider

If you have dependents — that's people who rely on your income, like children, a non-working spouse, or aging parents you support — you need life insurance. If you don't have dependents but do have debt or own a business, you might also want to consider it.Traditionally, the rule of thumb is to get life insurance worth 10 times your annual income — so if you make $75,000 a year, you'd get $750,000 worth of coverage.

That's not to say you shouldn't sign up for the policy offered by your job — only that you'll want to strongly consider adding an independent policy as well.There are two types of life insurance: term life and whole life. Term life, which covers policyholders for a set term , is recommended for most people primarily because it's much more affordable than whole life.

Depending on your profile and your coverage needs, it's possible to get term life insurance coverage for as little as $25 a month or less. When you sign up for a term policy, your payment is fixed, meaning unless you change your coverage needs, you'll be paying that $25 a month for the entire 30 years.For life insurance, the sooner, the better. Life insurance coverage gets more expensive as you age and become riskier — in the eyes of an insurance company — to cover.

Some people choose to get life insurance even if they don't have dependents, for a variety of reasons:so their loved ones don't have to pay for it

Better start collecting the money because this is my awakening and I'm the master of them and momma said all the people are my servant on this Earth. people not giving a** or neither gas. Somethings got to change around here.

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

After I got pregnant, the first thing I bought was life insurance - Business InsiderBuying life insurance, building an emergency fund, saving for retirement. They're all things we know we should do, but don't always make the time.
Source: BusinessInsider - 🏆 729. / 51 Read more »

30 minutes comparison-shopping for life insurance saved me money - Business InsiderJust like any other type of insurance, spending an hour (or less) to shop around for life insurance could help you save.
Source: BusinessInsider - 🏆 729. / 51 Read more »

The best industries and states to start a business in 2020 - Business InsiderRead Business Insider's exclusive analysis of the top 10 business categories and top 10 locations for entrepreneurs to grow in 2020.
Source: BusinessInsider - 🏆 729. / 51 Read more »

7 helpful things to read if you can't make up your mind about high-yield savings - Business InsiderWe've gathered must-reads about high-yield savings accounts to give you an idea what to expect, how people use them, and which ones to choose.
Source: BusinessInsider - 🏆 729. / 51 Read more »

What the fintech pros are saying about 2020 - Business Insider - Business InsiderBusiness Insider Intelligence's fintech research team asked industry leaders for their 2020 fintech predictions — and what didn't pan out in 2019.
Source: BusinessInsider - 🏆 729. / 51 Read more »