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You buy homeowners insurance to protect your house and car insurance to protect your car, but what about insurance to protect your family’s financial security?
While many people think they need life insurance, their lack of knowledge causes them to overestimate the cost. In fact, according to the 2019 Insurance Barometer Report from industry groups LIMRA and Life Happens, perceptions of affordability and value often deter people from buying life insurance.
If a loved one depends on your income, or you want to ensure they are taken care of financially in case you pass away, life insurance is worth considering.
To help you determine if a life insurance policy makes sense for your financial needs, here’s a breakdown of everything you need to know about life insurance so you can make an educated decision about purchasing a policy.