When should I purchase life insurance?
- Richard Reich
You should purchase life insurance now if:
- If you are married (or about to get married) and your spouse depends on your income.
- If you have young children (or about to).
- If you are married and own a home with a mortgage.
- If you have a large estate and expect that your heirs will be hit with a big estate tax bill.
- If you are a partial owner of a business and have a buy/sell agreement with your partner(s), but no way to fund the buy-out of your partner’s shares should he/she pass away (and vice-versa).
- If you have a special-needs child who will need special care should you and/or your spouse die