Insurance is often the safest and most risk-free approach to investing. Most people think they are sufficiently insured when they are not. Working people spend their lives earning what they have. Our personal wealth is a link to family and our early earning potential. Heads of households know the stress and pressure of others depending on them for their well-being and income. Death often occurs unexpectedly and without warning. Especially true when accidents and sudden illnesses are the source of death. It’s important to make sure you have enough insurance to cover your family’s expenses in case you can no longer do so. Have you thought about how your family will survive not only emotionally but also financially without you?

Insurance can help preserve your family’s lifestyle and should be a part of any comprehensive financial investment plan. Most people avoid the subject of life insurance, thinking about your own death is never pleasant, but having the peace of mind that your family is well worth it. Life insurance is a low-risk way to invest money over time. Most people choose term life insurance because they don’t realize there are other investment-based life insurance policies available. Term life insurance only pays a lump sum after your death. Financial experts believe that a person should have a life insurance policy that is at least 10 times their annual income. If you are interested in purchasing insurance, there are several online life insurance calculators that offer a fairly accurate life insurance analysis. The cost of insurance is based on the level of risk assumed by the company offering the insurance. Factors that affect the price are age, health, participation in dangerous leisure activities or addictions. Life insurance can be purchased for almost anyone, including the main breadwinner in the family, the stay-at-home mom, the stay-at-home parent, anyone with dependents, anyone with significant debt or assets.

Talk to your financial advisor about including life insurance as part of your stock portfolio. Your advisor will calculate exactly how much insurance you need for your particular situation. Life insurance can be taken out in or out of retirement. Insurance within retirement has the benefit that the premiums are tax deductible. This is especially helpful for anyone who is self-employed or someone who has a spouse who has low income. Buying coverage through a retirement funder is a great way to save on life insurance premiums because it’s not a separate insurance policy. Self-employed workers can claim a tax deduction on their extraordinary contributions, regardless of whether the contribution is used to buy investments or insurance. This tax-saving option is ideal for those with a young family looking for greater security and financial protection, as the amount saved through deductions and refunds can be used to increase your level of insurance coverage.