7 Facts You Didn’t Know About Life Insurance Life insurance, despite being vital, remains one of the most misunderstood financial instruments. Many wouldn’t want to talk about Life insurance because they don’t want to talk about death or just undermine the possibility of a disability or illness. However, Life insurance is one of the pillars of personal finance and is deserving of consideration and attention by every household. Here is a low-down on some of the facts of life insurance which are lesser known or often ignored.
1. Your financial plan is far from complete if it does not include Life Insurance You might have designed a short-term and a long-term financial plan, with all kind of financial milestones, and feel great about it. However, without Life insurance, it is just another academic effort. A sound financial plan must include consideration for life insurance on you and/or your significant other, that will help your loved ones to continue sustaining a sound quality of life if you are not there. Life insurance is an important part of your long-term comprehensive financial plan.
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