What You Need to Know About Life Insurance

1. Coverage

Life insurance coverage is an important part of planning for the future. It can be used to help your loved ones pay off outstanding debts, pay for funeral expenses, and replace your income if you die.

The amount of coverage you need depends on your specific financial situation and your goals. Generally, we suggest seven to 10 times your pretax annual salary as the minimum coverage amount.

Once you determine how much coverage is appropriate for your needs, it’s time to consider your premiums and the choice of insurer. There are many factors that affect life insurance rates, including your age, gender, and medical history.

For example, women generally pay lower life insurance rates than men. This is because women tend to live longer than men, so they have a lower risk of death. However, if you’re in poor health or have high medical bills, you may be charged higher premiums than other people. The key is to talk to an insurance professional before making a decision on the life insurance that’s right for you.


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