CHAPTER 16
Life Insurance—The Risk Protector 쏆쏆쏆쏆쏆쏆쏆쏆쏆쏆쏆쏆쏆쏆쏆쏆쏆쏆쏆쏆쏆쏆쏆쏆쏆쏆
“For 3 days after death, hair and fingernails continue to grow but phone calls do taper off.”
Do I Need to Read This Chapter? ●
Have I thought about the need to protect my dependents when I die?
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Am I under the false illusion that my kids under age 21 need life insurance?
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Do I understand the different types of life insurance?
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Am I aware of the pros and cons (mostly cons!) of insurance as an investment?
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Can I decipher the ratings (like AA or Ba3) given to insurance companies?
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Have I determined, free of sales pitches, the best life insurance for my situation?
What Is the Purpose of Life Insurance? The basic purpose of life insurance is to offer financial protection to your loved ones in the event of your death. The benefit it provides is one that you hope you won’t need—at least not soon—but that most people would be foolish to do without. Remember that: 1. Life insurance is usually the major source of liquidity to beneficiaries. 2. Life insurance proceeds, in most states, are exempt from the claims of the deceased’s creditors.
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