Apr 23
Who should own life insurance?
Many people ask the question, “who should own life insurance?” There is one easy way to answer this….think about whether or not you have someone who would suffer financially if you weren’t around tomorrow. If you have someone (a child, parent, etc.) that depends on you financially, then you should own life insurance.
The next question you’ll probably ask is, “how much life insurance should I own?” Experts recommend 5-10 times your annual income, but you may want to check out a life insurance needs calculator to get a better idea of what your financial situation calls for.
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