With these statistics in mind, it's plain to see that it's important to have
enough life insurance in place to ensure your family's financial future.
Not exact matches
Dealing with the emotional toll of losing a loved one is difficult
enough, but not having a
life insurance policy
in place can lead to undue financial challenges afterwards.
Assess the funds you have
in place combined with your employer - sponsored
life insurance policy to ensure it's
enough to cover your family's needs.
While this is all good news, far too many families still don't have
enough life insurance coverage
in place.
Likewise, if there is no other
life insurance in place, or if the amount of
life insurance that you currently have is not
enough, you may want to consider the amount of unpaid debt you have that could end up being the responsibility of your loved ones.
Term
life insurance can be put
in place for periods of up to 20 years at a time, and this can be
enough to get the insured through his or her prime earning years and pay off a mortgage or provide funding for child care or college for the insured's children.