You should have life insurance, specifically, term-life insurance Philadelphia Inquirer
Dear Harry: I have just gotten married, and I have been besieged by friends of my in-laws about buying life insurance. My father never had life insurance, and he raised three kids and lived to 89. I know you don't think it's necessary, either. I need some reasons for turning these people down. Help.
What Harry says: You've come to the wrong guy. The "father" of modern life insurance was a Wharton prof named Solomon S. Heubner. I remember hearing him scream in one of his lectures: I wouldn't let my daughter get married until I saw her boyfriend's life insurance policies! That's a bit more extreme than my own views, but the conclusion is the same. You need it to protect her from the financial disaster that can occur if you die at a young age. Even if your wife has great earning capacity, she will need the insurance to allow her to care adequately for her children. (Incidentally, she should have insurance commensurate with her earnings.) Sure, Social Security will help, but it is not enough. Part of the value of SS is in its life-insurance coverage. My beef is with whole-life insurance and its variations. I favor term insurance, which gives you the opportunity to buy more for less premium. Make it renewable and convertible for a 10-year term. To make me feel that the insurance company is secure, be certain that the company you select writes the same policy in New York. They have always had consumer-oriented insurance departments. Pennsylvania's record has not been as good.
Columbus DispatchInvesting money saved on term life might not be slam-dunk once thoughtFor example, a 33-year-old man who pays $355 in annual premiums for a 10-year term life insurance policy can face a “renewal” premium of $3865 in the 11th year, according to a white paper, “Life Insurance as an Asset Class: A Value-added Component of Parents should get insured first
Boston GlobeHealth Care: Who Needs It?9.487 million are NOT LEGAL citizens and 8.3 million made $50000 to $74999 per year and chose not to buy insurance. An additional 8.74 million make over $75000 per year and do not buy insurance. Among uninsured that own their own home, 60% reported Video: Health Care Reform Falls Out - Bloomberg The Plain Truth About Health Care Reform Citizen views on reforming US health care -
