Many people take the issue of having sufficient life insurance too lightly. Only the loved ones left behind after your demise will really appreciate the responsible steps that you take while you are living by way of having sufficient life insurance. This article briefly addresses this need.



So you have a nice job bringing in a nice income every month that is more than sufficient to pay the mortgage on the home, finance the couple of nice cars that you may have and the fancy boat that you may have purchased. There might still be plenty of money left to go out to high end restaurants and movies and other entertainment venues. All that is good and you should feel happy to have achieved all this in your career. But before you plan on the next expensive vacation or toy, look closely about your life insurance policy and if you even have one. Many people take life insurance very lightly and in casual passing. We are all mortal and every one of us has a limited life span, some fortunately longer than others. One must consider having sufficient life insurance to take care of the loved ones left behind. If you are the sole bread winner of the family, then it is your responsibility to plan as to how those left behind will finance their lives, the mortgage payments, car payments, education expenses for children and so on. Several ideas exist as to how much life insurance one must carry and what multiple of your annual income that should amount to, for example.



One must consider all of the costs associated with ones demise. Besides funeral expenses, there are costs involved with transfer of your estate. If you have a couple of high end homes, for example, the estate taxes that your children may have to pay might be pretty high and the taxes are due fairly quickly. There is a tremendous amount of liquid cash that one needs to have at their disposal in order to fulfill the tax obligations. Life insurance is a handy tool for this purpose. Some people talk about life insurance as an investment tool. I strongly believe that life insurance should not be looked upon as an investment instrument, rather as a necessity to make things easier for those left behind. You may not be able to enjoy the benefits of making all those insurance premiums, but your loved ones certainly will. After all, isn't that what love is about. So don't drop dead without life insurance.