Sunday, April 12, 2009

Why people buy Life Insurance?

People buy life insurance because they care about someone, organisation like a school, college, temple, church or a charity group or because they owe someone.

Many people tend to treat life insurance as an expense to be minimized. I view life insurance as an asset to be optimized within the context of your overall financial situation.

Life insurance can create a fortune for your family. It can help to create a fortune to supplement your own retirement income. When you have created a fortune, life insurance can save that fortune being devastated by estate taxes (if any, subject current tax law) and related costs.