Do you need life Insurance?
How much of the family income do I provide?
If I were to die early, how would my survivors get by?
Does anyone else depend on me financially?
Your primary reason for buying life insurance should be for the death benefit, or cash, that the policy will pay to your survivors – cash that can be used to pay for final expenses such as a funeral, unpaid medical bills and credit card balances. Life insurance benefits can also be used to continue mortgage payments and other financial obligations, giving your survivors time to adjust to the loss of your income.
Life insurance policies are not all the same, and consumers should be cautious about dropping life insurance policies they already have in order to purchase new or replacement policies.