This blog is a bit different from my other ones. It is not just information that I am passing along to you about how to budget, invest, or save, but is my perspective on the WHY.
Estate planning is necessary to ensure that assets will be secured for loved ones upon death or incapacitation as well as making sure children, if there are any, are cared for according to the person’s wishes. It does not need to be complicated, but you do want to make sure that it is done properly.
It is necessary to know the difference between the two most common types of life insurance: whole life and term life. They are similar in some ways but very different in others. Following are the basics between the two that may help you decide which is best for your needs. Life insurance is a must if there are other people who depend on you for your income.