The purchase of life insurance can be an important addition to most any complete financial plan. This is due to the fact that the proceeds that are collected by the lost one’s survivors can be used for a variety of needs, including paying off a home mortgage, funeral expenses, and making up for lost income.
When buying a life insurance policy, it is important to keep a number of key criteria in mind, such as the type and the amount of coverage that you are applying for, and the reputation of the insurance company that you are purchasing the coverage with. For instance, the financial strength of the insurance carrier – as well as its reputation for paying out the claims of its policyholders – can help you to ensure that the funds will be there for those you care about if the unexpected should occur. One insurance company that has a highly positive reputation is Sun Life. [Read more…]