How do you know whether you need life insurance cash value death benefit or not?

It really comes down to one question: If something were to happen to you, would your family be able to cope financially?

If your death will cause financial hardship and stress for your family and loved ones, then you need life insurance. Financial hardship occurs when expenses are greater than income or assets.

For example, if your total assets are $250,000, but your total final expenses (such as cemetery or funeral, credit cards debts, car loans, emergency fund, legal and accounting fees, and income tax and capital gains tax), and your family’s total continuing expenses (such as food, clothing, telephone, childcare, education fund, medical and dental, car insurance, gas and maintenance, house loan, house maintenance, property tax, insurance and utilities, and entertainment and vacation) are $800,000, then you need to buy life insurance, because you have a financial gap of $550,000.

Now you know whether you need life insurance cash value or not. If your loved ones depend on you financially for their day-to-day needs and future well-being, it is crucial for you to have life insurance cash value plan.

Yan Li 李燕

(Yan Li, 李燕，President of Canada Valuelife Financial Services Corporation; Registered Teacher and Licensed  Insurance Advisor in Ontario Canada;  President Award Winner;  Author; Translator; Value Life Coach.   Tel: 416-388-6484.  Email: yan@find-the-value-in-life.com. Website: www.find-the-value-in-life.com)

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