Who needs life insurance

No one likes to talk about death,accidents,or disability. It is scary! Nobody likes to think about dying. Nobody likes to talk about having a plan for his/her family..."Oh...you are too young..." or
" Lets not talk about it...it can attract it..." I just finished the book written by a rabbi that talks about all things happen by randomness. If things happen or not by randomness we should be prepared if the luck (or not so luck) number is ours. It means we should talk about Life Insurance.
Some people that are too worried about what will happen when they die,buy too much life insurance. Others run away from the subject. And do not buy at all. The reality is if someone depends on you financially,you need life insurance. It is that simple.
For example, stay at home parents need life insurance. Why? Because childcare,transportation,cleaning,cooking and other households activities are all important tasks.These services can be estimated over a $40,000 a year...and so many times they are underestimated. If you want to preserve the quality of life of your family you will think in life insurance. Also think if your spouse outlives you by 10 or 30 years, would you financial plan,without life insurance, enable your spouse to maintain the lifestyle you worked so hard to achieve?
Life insurance also can help ensure that your estate will be passed on, intact, to your survivors. A policy’s death benefit can help pay estate taxes and other final expenses when you die. Finally, life insurance can help you leave a legacy for your children and grandchildren even if you use up most of your assets during your lifetime.
Business owners need insurance for similar reasons: income replacement and to protect the future of the company. If a partner, owner or key employee is suddenly gone, the business can deteriorate very quickly. With the right insurance in place, the surviving business partners will have enough capital to keep the business going while looking for a replacement for the deceased partner, or to buy out the heirs of the deceased partner.
How much insurance your family or business needs will depend on your expected income over your lifetime, debts and future expenses, and the general structure of your business.
As you research your options, ask friends or family to recommend agents or insurance companies (Mintco Financial has a chat live that can answer all your question while you are online just go to www.MintcoFinancial.com). Don’t forget to check with your employer – some businesses offer group life insurance policies for workers. And once you buy insurance, be sure to review your coverage if you have life events such as the birth of a child, a marriage or divorce, even a promotion or the purchase of a new house. All of these things can affect your lifestyle costs, so you might want to adjust your coverage.