Save Money on Life Insurance by Vincent Richman If you are single with no dependents, then no matter what your age, you do not need life insurance. There are only two exceptions to this statement. The first exception is if you have a good reason to believe that you may develop a life-threatening illness at an early age due to a family history of disease, and you believe you will have a need to leave an estate to someone in the future. If that is your situation, then buying life insurance while you are still healthy makes sense. The second exception is if you do your homework and determine that you want to use life insurance as a long-term investment. In that case, a carefully selected whole life or universal life policy might make sense for you. The primary reason to spend money on life insurance is to provide income to your family if you die before accumulating a large enough liquid estate to take care of them after you are dead. If you are retired and your kids are grown, and you have planned well for retirement, then you can probably save money by eliminating life insurance payments. If you are not reasonably wealthy and you have children or other dependents then you should probably incur the expense of life insurance. If you want insurance only and plan to save and invest through other vehicles (stocks, savings account, mutual funds, bank certificates of deposit, etc.), then you should buy term life insurance. Shop around and buy the policy with the longest term you can afford with a rate that is the same for the full term of the policy. You can find information about competing rates from various companies through several different websites and online services that offer free services to potential insurance customers. If you want to combine insurance with long-term investment, make sure you can afford to keep the policy, and pay on it every year, for at least ten years. If you cancel a whole life or other cash value policy after just a few years, you will have paid far too much for the insurance component of the policy and will have received virtually no benefit from the investment component. Make sure that you select a life insurance company that is financially stable. You can obtain financial information on insurance companies online and in most public libraries. Finally, always read the fine print. Make sure you know when the insurance company will not pay upon your death (some exclude suicide; some exclude death while piloting a private airplane, etc.). Remember that the lawyers who work for insurance companies write the fine print for the benefit of the insurance company, not the insurance company's customers. __________________________________________________________ Protect Yourself From Inflation How To Protect Your Life Savings From Dollar Weakness, Inflation, And Economic Downturns While You Earn A Higher Income Than Ever Before! __________________________________________________________

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