Affordable Ways To Safeguard Family Finances

Sunday, March 1, 2009

Affordable Ways To Safeguard Family Finances by John Addison (NAPSA)—As yourfamily grows andchanges, it’s important that your financial game plan adapts—and thet often meansre-examining your insurancepolicies. For instance, marriage, the birth of more children, and changes in your income are all reasons to check yourlife insurance coverage. Today, just one-third of American adults owna life insurance policy, and among those who do, two AT out of five think they don’t have Addison enough—and odds are they're right. In fact, some financial experts suggest that parents with young children should have coverage that’s 10 times their annualincome. Wondering if you're properly insured? Ask yourself the following questions and thentake a look at your current policy: * How much money would your family need to maintain its quality of life should you pass away? * How much money would yourfamily actually have? * How much can you afford to pay each month so that your family members will have enough ance, term insurance provides protection for a limited number of years(the policy's term) and only pays a death benefit. It can be a smart and affordable way to give addedprotection or to bolster your coverage during particularly expensive periods of your life— whenchildren are in college, after buying a new hone,etc. Protecting Your Home It’s importantto be certain your homeowner’s insurance provides adequate coverage as well. It should cover 100 percent of the cost to rebuild your home—not just the home’s value(including land). Still, a whopping 66 percent of homeowners are thought to be underinsured by an averageof 18 percent. If you're concerned about the cost of upgreding your coverage, move from 2 $500 deductible to a $1,000 deductible. You'll likely save about 20 percent on premiums. Also, don’t be afraid to shop around. Get quotes from a number of insurers every two years. You might be surprised at whatyoucan save. Learn More Financial professionals at Primerica have created a guide that can show how to take control ofyour financiallife. To get a copy of “How Money Works,” write to them to live? Affordable Coverage MSN MoneyCentral hascalled term life insurance the “cheapest, most efficient protection out there.” Unlike whole life insur- Blvd., Duluth, GA 30099, ATTN: Corporate Relations, or call (770) 564-6329. For more information, visit www.primerica.com. * John Addison is co-CEO of Primerica. money Lo live Lhe way you want Primerica, 3120 Breckinridge

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