Review: Great Job Providing A Detailed Overview of Life Insurance Options - Important Read For ALL Individuals
Rating: 4 out of 5
Date: 04 9, 2014
This is a really helpful eBook for those unaware of the benefits or types of life insurance policies out there.  I think it's a must-read for those not too familiar with the topic because, as the book points out, while an insurance broker will help you make a decision with regards to what type of life insurance policy is for you, it's YOUR LOVED ONES that will benefit from it, so you should take part in the decision and the best way to do that is to educate yourself and be informed!This book makes it clear that life insurance is for everyone, including those who are single and not just those with dependents. Of course, we all know that the point of life insurance is to take care of our dependents if the unthinkable happens, which is probably why so few of us actually like thinking about it, but single people may need it too!Regarding new parents (this particularly hits home with me and is why I picked up this eBook - I am a soon-to-be-first-time-mother) you realize that you take all this time to ensure you have a safe crib, a safe home (child proofing the house), etc., but you also have to consider getting (or adding the new child to) a life insurance policy.Not just for the event of a new child, the book outlines various milestones in our lives that require the consideration of life insurance (either a new policy or amendments to one already in place), such as marriage, divorce, improved health, etc.  This latter example of improved health can actually have an impact on decreasing the premiums paid!The book gets the reader thinking about how important coverage is so that others, after your death, don't incur expenditures such as burial or cremation, unpaid debts, medical bills, college funding, mortgages so one's family isn't out on the street, etc.It also warns about the various restrictions in place on policies and how you should be very aware of them (such as limited types of illnesses covered or the exclusionary events that may preclude proceeds to the beneficiary, like suicide or war).Term Life Insurance and Permanent Life Insurance, as well as those policies that fall under these two umbrellas are briefly reviewed.  Under Term Life Insurance, the book discusses Annual Renewable Term Life Insurance, Level Premium Term Insurance, and which is appropriate at what stage of life of the policy purchaser.Under Permanent Life Insurance, it discusses Whole Life Insurance, Universal Life Insurance, Variable Life and Variable Universal Life Insurance, Limited Pay Life Insurance and Endowments.It does a good job of giving an overview, the benefits and the cons of each.I think this is an important first step in learning about life insurance.I'd have given this book 5 stars if it went a bit more in depth on each type of insurance policy, but overall, I believe it's an essential and informative start on the topic that everyone should read to get an overview before doing further research or making any decision on what type of life insurance to buy or, the first step, WHY to buy it at all!