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http://www.gccihome.com/life-insurance/
Family Security = Life Insurance Policies
By David C Skul, Fri Dec 9th
In order to preserve some kind of family security for thefuture, young couples with children can make a great use of alife insurance policy. Although this is the last thing that ayoung couple wants to think about after they got started withtheir new lives with many payments like rent, child-care andother, the policy is like a family security blanket for thefuture. How much money coverage does family security need? The basicrule is to buy a policy that would pay out 6-8 times your annualincome in case of your death. The main idea for family securityis that this amount of money would cover a part of survivingspending for a couple of years until he or she has time toadjust the balance. But sometimes for a better family securitysome couples want more then just 6-8 multiple if they want tocover some other expenses. For your family security the next question will be if you wantterm or not a whole life insurance. A term insurance policyprovides coverage for a specific period of time (10 years ofmore). Whole life insurances provide a cover for your familysecurity as long as you live. Although, it is recommended foryoung couples to start with a term insurance that is a lot moreaffordable then a whole life insurance. However, later, if thefamily annual income rises up, for a better future familysecurity the couple can have a whole life insurance.
The suggested policy for young families is considered to be a20-year level term insurance in witch the death benefits mountsare locked in for 20 years. That could be coupled with anduniversal life policy for a bigger blanket over their familysecurity. This means that a 30-year-old person in good healthcould be expected to install family security by paying about270$ a year for the level term policy of 400,000$ and about 500$a year for the 100,000$ universal life insurance. Still, thereare al kinds of insurance policies made to preserve financialfamily security for all families out there that have a minimumincome. About the author: This article and one-waylink advertisement provided by http://www.LinkAcquire.com.This family security article is written by David C Skul in orderto make more clear the needs of this subject in our daily life.Also if you want to find out more about familysecurity you can click here.
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