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What is Life Insurance?
Life insurance protects you and your family from economic hardship as a result of death. It is an insurance company's obligation to pay the recipient of your choice a pre-determined amount of money when you die in exchange for timely payment of premiums while you are living.

Do you really need life insurance? Well do you want to provide for your family and loved ones in a manner to which they have become accustomed in the untimely event of your death? If you are the primary breadwinner who will pay the mortgage on the house your spouse and children live in if you pass? Who will provide financially for your family if you are gone? How will your children's education be financed in your absence? And finally how will your burial expenses be covered?

Now that you have decided you do indeed need life insurance, how much do you need and if you already have life insurance do you have enough? Some things you will need to consider when making this decision:

How much can your family afford to pay off your mortgage loan or your rent if you die?

How much debt will you leave behind to include credit card balances, car loans, student loans, personal loans etc.?

How much annual income will your death remove from your household?

How much will the funeral you desire cost?

Do you want to leave behind a charity fund in your name?

Do you have special family members you would like to leave a financial gift behind for?

How much will your spouse need to care for a family member with special needs?

How much do you want to leave behind for your children's education expenses?

Once you calculate how much money you want to leave behind consider how much you currently have in terms of individual or group life insurance along with your other assets such as savings accounts, CDs, mutual funds, stocks, bonds, 401K, retirement plans or pension plans and subtract that amount to decide how much life insurance you currently need to purchase.

About the Author

Timothy Gorman is a successful Webmaster and publisher of Best-Free-Insurance-Quotes.com. He provides more insurance information and offers free money saving auto, home, health and life insurance quotes that you can research in your pajamas on his website.
written by: Tim Gorman

 
Read The Latest News About Life Insurance Below
Your Life Insurance Policy May Not Be Protected (BusinessWeek Online via Yahoo! News)
With the financial system in crisis, investors increasingly rely on government guarantees to protect their money. Bank accounts are backed by the Federal Deposit Insurance Corp. and its $53 billion war chest. After decades on their own, money market funds now are backed by the U.S. Treasury. And life insurance policies and annuities? They're backed by state guaranty associations. There's only ...

A.M. Best Downgrades Issuer Credit Rating of North Coast Life Insurance Company; Places All Ratings Under Review (Business Wire via Yahoo! Finance)
OLDWICK, N.J.----A.M. Best Co. has downgraded the issuer credit rating to “b” from “b+” of North Coast Life Insurance Company [OTCBB: NCLI ]. Concurrently, A.M. Best has placed the ICR and the financial strength rating of C++ under review with negative implications.

Integrity Capital Partners sells unwanted life insurance policies (BizJournals)
Integrity Capital Partners has facilitated the sale of $130 million in life insurance policies for a public company. (XRIT)

Research and Markets: An Industry Profile of the Non-Life Insurance Market in Australia: With Five Year Forecasts, ... (Business Wire via Yahoo! Finance)
DUBLIN, Ireland----Research and Markets has announced the addition of the "Non-Life Insurance in Australia" report to their offering.

Allianz Life Insurance introduces new life insurance series (Insurance Business Review)
Allianz Life Insurance Company of North America has said that its new GenDex series of life insurance products is now available for sale in over 30 states of the US.

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