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Have you ever tried buying or renting a car without insurance? It is a difficult, if not impossible experience. How about mortgaging a house? You get the same result. The reason behind this is the protection of an asset. One of the most common mistakes made about life insurance is forgetting that you are the biggest and most valuable asset. Your capacity to earn a living and provide for your family is difficult to replace. Life insurance and disability coverage simply protects your dependents against the financial hardship that your death or disability would bring. Life and disability insurance provides you and your family with the security of knowing that you are protected should a disabling accident or death occur. In essence, the insurance takes the place of the income that is no longer being earned by the insured. How much do you need? It is not always this simple however to determine the amount of insurance needed since it is dependent upon your life circumstances. For example, a single working individual might need less insurance that a couple with two young children where only one adult is working. The number of financial dependents can play a big part in deciding the amount of insurance to purchase. Meeting
your insurance needs Be sure to check out Fiscal Agent's insurance planning tools including How much is enough, a three part worksheet that can help to determine how much life insurance you will require as you age. To get more information on other insurance products offered by Fiscal Agents, click on the following links: * Figure quoted based on 09/31/00 10 year term illustration for male, age 30, non-smoker at preferred rates.
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