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Only 47% Have Life Insurance
Having a family it’s important to have adequate life insurance. You never know what could happen and it’s important to ensure your family is well taken care of. If you are the major income earner for your family it’s even more important you look into insurance such as term life insurance. Term life insurance provides coverage for a specific period of time. When that period is over, the insured can stop the policy or pay annually increasing premiums to continue the policy.
It is estimated in the USA that only 4 out of every 10 working men have a life insurance policy. This is a sad fact when life insurance premiums are very low with most costing less than $20 per month for $200,000 worth of coverage. Unintentional injury deaths occur every six minutes, so a policy that covers accidental death & dismemberment is something everyone should look into.
The cost of life insurance is calculated based off the policy prices with an intent to fund claims to be paid and operating costs of the insurance company, and to make a profit. Don’t forget insurance companies are out to make a profit. The cost of insurance is determined using mortality tables calculated by actuaries. Sounds kind of morbid but life insurance is a huge business. You can get more information by reading life insurance articles online.
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