Importance of life insurance

Importance of life insurance: FOX Toledo Market Minute Oct 16 I'm wrapping up with a look at why...  More »

Importance of life insurance: FOX Toledo Market Minute Oct 16 I'm wrapping up with a look at why life insurance is so important. "For instance, if someone's at the beginning of their investing/savings stage of life, then they're going to want some insurance - "maybe term, maybe universal life insurance," said Michelle Henry of Generations Financial Group. "They're going to want some insurance to cover the expense they or their family may need, until they have that portfolio built up." Henry says if you already have life insurance, it's important that you check your policy or have someone else take a look at it. Your life insurance guarantee may not cover you as long as you might think. Some run out when you're 75 or 80. These days, that's much too young. "Many people live beyond that," Henry said. "For myself, personally, if I have life insurance, I want to be guaranteed that it's going to last my lifetime. I don't know how long I'm going live, and neither do they. So, I would say that's probably the biggest thing." "Take a look at what you have and make sure it's going to last your lifetime - if that's what your looking for it to do."  « Less