The purchase of life insurance can be an important addition to most any complete financial plan. That is because the proceeds that are received from life insurance coverage can be used by loved ones and survivors for any number of essential needs – from paying off a home mortgage, paying for the insured’s funeral and other final expenses, and even for paying ongoing living expenses if the insured’s lost income would otherwise put them in a difficult financial situation.
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 through. For instance, the financial strength of the insurance carrier – as well as its reputation for paying out the claims of its policy holders – 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. Continue Reading