Life Insurance: 3 Questions To Ask

Question 1

Do I need it?

Answer 1

Is there an economic justification?

Question 2

How much?

Answer 2

• income method (multiply income by 7 or 10)

- budget method (based on current and expected expenses)

Question 3

What type?

Answer 3

1. Term life insurance (temporary coverage)

2. Cash value life insurance (life insurance + savings)