Finance: Life Insurance – Do You Need It?

Life Insurance – Do You Need It?

Written by By Vickie J Scanlon

Many people are skittish about life insurance, because they feel that it is useless, or it makes them face their mortality, or they may arrogantly think that they won’t die. But let me reassure you, life insurance is not only useful, but also essential if you’re young or old, or have a young family. Life Insurance should definitely be one piece of your financial portfolio.

BENEFITS OF LIFE INSURANCE

1)Protects your family – If you should die prematurely a life insurance policy will give your young family and spouse a financial buffer. The lost income can be devastating. 2)For children and young adults – accidents are a leading cause of death. 3)As you get older – it can help to defer funeral costs.

Life Insurance can help fill repparttar gaps when you or someone you love passes away, as well as, helping to eliminate repparttar 143619 stress and uncertainty of their future.

TYPES OF LIFE INSURANCE

There are different types of insurance, which can fit each individual’s needs and situations. The different types and explanation of each are as follows:

Term Life Insurance – Term life gives you coverage for a particular period of time. (Builds No Cash Value)

Top Ten Reasons to File Bankruptcy

Written by SSLowrey

1. Eliminate repparttar

legal obligation to pay many of your debts.. This process of wiping repparttar 143584

slate clean is called a discharge of debts. The goal of a discharge is to reduce debt to give you a fresh start. Whether it is through straight bankruptcy (Chapter 7 Bankruptcy) or through reorganization (Chapter 13 Bankruptcy), most or all of your debts can be cleared.

2. Stop foreclosure on you house and allow you to effectively make payments to catch up on missed payments of your mortgage. If your home is in foreclosure, Chapter 13 Bankruptcy will stop repparttar 143585 foreclosure any time prior to repparttar 143586 sale. Bankruptcy does not eliminate mortgages on your property without payment. Rather, bankruptcy will structure a plan in order to repay your mortgage arrears (the amount that you are behind). <stop foreclosure>

3. Prevent your car or other property from being repossessed.

Even if repparttar 143587 creditor has repossessed your car, filing bankruptcy can effectively force them to return your car or other personal property (if repparttar 143588 bankruptcy is filed quickly enough). The past payments you have missed will be consolidated into your Chapter 13 Bankruptcy plan. After this you will no longer pay repparttar 143589 finance company, rather you will make monthly payments to repparttar 143590 trustee of your Chapter 13 Bankruptcy who will then pay repparttar 143591 finance company.

4. Reduce or even eliminate high medical bills.

Sometimes an unfortunate accident or major recently discovered illness can completely ruin a family. Many families have to make choices on allocation of bills. Often, bills that were once important become insignificant to repparttar 143592 large medical bills acquired by a loved one. Filing Chapter 7 bankruptcy can greatly reduce repparttar 143593 amount of medical bills. 5. Recent loss of employment.

Studies show that loss of work is one of repparttar 143594 most common reasons people file for bankruptcy. This is very easy to see. A family can get comfortable on two maybe even one salary. They can take on regular amount of debts, join clubs, and pay normal bills with relative ease. All of a sudden one or both spouses lose a job and a family must go from two salaries to one. Losing a job is closely tied to high medical bills. Losing a job means this family may be left without repparttar 143595 protection of insurance that was once provided by their employer. Often times these two factors combined create an almost impossible mountain to climb without repparttar 143596 help of bankruptcy.

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