Nov
10
10
Policies vary in its coverage and the amount they cover. Parents should look into:
Type of coverage – term life or permanent; they should be aware that the availability and price of the insurance is affected by health, age and type of coverage.
Amount of coverage – whether a family is single or dual-income, parents should have a life insurance that can give a guarantee that any one of them could survive financially in the event that one of them dies or become disabled. They should designate a beneficiary – both primary and secondary – to be able to facilitate the immediate release of the benefits to the family.