Who Does Life Insurance Cover 2012

Charitable Causes Some people are looking to do some charity work and will decide to buy a life insurance policy just to donate some money for charity. Final Expenses These are expenses such as funeral costs, medical fees and costs of burial. These are covered by life insurance. Death taxes Some people decide to take out a policy to pay tax on property so that their family doesn't have to face the burden of having to pay these off – say by liquidating their personal assets. Premiums for term policies are extremely cheap, especially for people who are young, healthy and fit. These will increase slightly after a certain age (usually 50). Insurance companies will simply not offer term policies to people who are above the age of 65 and so these people have no choice but to purchase whole life insurance. Whether or not the whole life policy will be a good investment depends on the final rate of return on the investment – that is after all the fees and commissions have been subtracted. This is the job of an analyst or an expert. Only they can tell you whether or not the policy will ever yield you a worthwhile return. insurance paying top

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