Life insurance
January 21, 2019
I’m Miriam Neff-with STARTING OVER FINANCIALLY,-and I’m Valerie Neff Hogan, and we’re here to talk about money
M One wise financial purchase is life insurance. Easy to decide, challenging to chose. Guideline: decide what life insurance is to accomplish for you in this season of life and later.
V To simplify: whole life is a contract where you pay regular amounts over a prescribed limited period of time for coverage for a lifetime . Upon completion, death means that amount is paid to beneficiaries. Term means payments (much cheaper than whole life) over a limited amount of time, (coverage only for a limited time). Benefits are only paid if death occurs in that period.
M Many families benefit from variations that offer more coverage while children are dependent and mortgage that’s owed depends on the income of the covered.