Life Insurance References

How much coverage do you need? This is the first question that the agent asked when I inquired for a life insurance policy. But I guess there is no simple answer to how much coverage is enough. The main purpose of life insurance is to simply replace your income in case of death, so that your dependents can still maintain their lifestyle. In a recent study, it shows that buying a whole-life policy doesn’t necessarily mean you are fully insured or covered. Of course, the insurance you bought years ago, when transferred or availed by dependents has already depleted its value. Hence, one thing is sure, you need not to worry about their future.