Fall has begun, and with it comes cooler temperatures and the resulting seasonal increase in the number of home heating fires. To help Americans understand the nature of the heating fire problem, the U.S. Fire Administration (USFA) issued a special report: Heating Fires in Residential Buildings (2008-2010). Developed by USFA’s National Fire Data Center, the report is based on data from the National Fire Incident Reporting System (NFIRS).
The purpose of life insurance is to provide a source of income, in case of death, for your children, dependents, or other beneficiaries. Life insurance can also serve certain estate planning purposes, which we won't go into here.
Buying life insurance is contingent upon whether anyone is depending on your income after your death. If you have a spouse, child, parent, or some other individual who depends on your income, then you probably need life insurance.
Because life insurance protects your family in the event of a death, it is important to determine the correct amount. Most people do not have the right amount of insurance.