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Life Insurance Calculator: How Much Life Insurance Do You Need?

Do you know how much life insurance is the right amount for you? Take a few minutes walking through our Life Insurance Calculator for the answer. And even if you have life insurance today, is it enough? It may cover your family’s expenses so take time to make sure you have enough life insurance coverage. About 1 in 5 with life insurance admit they do not have enough. No matter your situation, when it comes to figuring out how much life insurance is the right amount, our Life Insurance Calculator can help you get organized around your life insurance needs and…

Top 12 Questions (and Answers) About Life Insurance

Even the most calm and collected person can become confused by the prospect of getting life insurance. So many of us know we need life insurance, but we also feel we don’t understand it enough to make the best decision. Good thing at SelectQuote we know when it comes to investing your money in ANY kind of purchase, the only stupid question, as the saying sort of goes, is the one you didn’t ask. There’s a funny thing about so-called dumb questions—a lot of people have them. And with that, here you can find answers to some of the questions…

The Differences Between Term and Whole Life Insurance

Maybe you’ve heard the adage, “life insurance isn’t for you, it’s for your loved ones.” In the event something does happen to you, you want to take care of your family’s needs. Simple enough. And smart. But deciding how best to provide for your family will likely lead you to the term life insurance or whole life insurance fork in the road. At first glance, the paths will look quite different: Term life insurance is the more straight-forward of the two solutions and less expensive. Whole life insurance (the most common form of cash value or permanent life insurance), on…

4 Reasons to Choose Term Life Insurance

Term life insurance offers one of the simplest ways to protect your loved ones in the event of your passing. It can also provide peace of mind. Mortality cuts well beyond six feet and leaves a trail of expenses and heartache in its wake. Knowing life is short, and may be taken away at any moment, it reinforces the desire to care for loved ones. Term life insurance pays out a guaranteed benefit when you die during a specified period of time. Say, for example, you buy a 30-year term life insurance policy and die before the 30-year timeframe ends, your…

7 Personal Finance Milestones in Your 30s

We recently discussed 5 Personal Finance Milestones in Your 20s, and today are following up with the next decade. Today we dive into the most important personal finance milestones of your 30s. Buy a Home While there are many circumstances where renting makes sense, owning your own home is a major milestone in your personal finances. When you buy a home, you stop paying someone else to live in their property and instead build equity in your own. On the 20s milestones list, an important item to help help you with this goal was noted: saving a down payment. If…

How Much Life Insurance Do You Need?

If you’re considering buying life insurance, whether for the first time or to supplement policies you already have in place, you’ve made a good decision. Term life insurance is the most affordable way to protect your family’s financial security for the long haul. It replaces your income in the event of your death. And life insurance ensures your dependents can support themselves financially in your absence. Term life insurance is surprisingly affordable. If you’re in your early or mid-career (20s, 30s or 40s) you can buy coverage for under a dollar a day. Even if you’re older, you can most…

Stay-at-Home Parents Need Life Insurance Too

Stay-at-home parents deserve a great big round of applause. From chauffeur to cook, counselor to bookkeeper, they wear many hats. The 16th annual Mom Salary Survey by Salary.com showed moms could hold 20 titles and work more than 90 hours a week as a stay-at-home spouse. While a stay-at-home parent doesn’t see a paycheck roll in each month, their financial contribution to the family is significant. Salary.com calculated the typical stay-at-home mom in the U.S. would earn a salary of $143,102. A handy calculator makes it easy for anyone to determine their stay-at-home paycheck. While Salary.com’s survey may have focused on…

Insurance Protection for College Students

Term life insurance likely isn’t on the radar for college students. They are focused on hanging out with friends, finding an internship and keeping up with social media. After all, they’re young and healthy and any vague thought about an untimely death is scary business and best avoided. Financial experts, on the other hand, advise that term life insurance for college students is extremely important to at least these categories: Students whose parents have co-signed a student loan. Students with a family or financial obligations like a mortgage or other debt. Students with dependent families. The High Cost of Education Consider,…

Questions to Ask When Considering Life Insurance

People often get nervous about shopping for life insurance because it seems complicated. That’s understandable. Sometimes it seems filing taxes may be easier than figuring insurance costs and policy plans. The good news is that there are a lot of sources for helpful tips out there to get you through the process, so do your research. Here are some essential questions you’ll need to consider: Do I Need a Life Insurance Policy? To start, ask yourself a couple questions. 1) Any chance that you’re going to die someday? 2) If you answered yes, are you single with no debts and no…

Take Steps Today to Ensure Your Life Insurance Pays Off

If you have a life insurance policy, you have already taken the first positive step toward protecting your loved ones’ financial futures. September is Life Insurance Awareness Month and the ideal time to take the next steps to ensure that you not only have adequate coverage but that your good intentions will be carried out too. Here are key points you need to know about how to manage life insurance policies and about how insurance is paid out: Check Your Records and Update as Needed Maybe you took out the policy many years ago, during which time your beneficiaries have…

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