Life insurance needs to be part of a financial plan

Oct 06, 2011

People shouldn't forget about life insurance while planning their financial future.

While it's not uncommon to forget things while in the planning a financial future with many different types of insurance, Jim Sandager, vice president and financial adviser for the Wealth Enhancement Group, said people need to include life insurance in their plans.

"When you think about it, buying insurance really is about protecting your assets," Sandager writes on the Des Moines Register's website. "That’s because when an illness or accident or other emergency occurs, it’s usually very expensive - unless you have the right insurance coverage."

He said those looking into insurance should first check their current coverage and measure where they are at, including looking at health savings accounts, long-term care insurance or substantial assets under another policy. They, he said, people should see what kind of additional coverage may be necessary.

In an article listing tips for buying life insurance as part of a financial plan, CNN Money said to be sure to buy when healthy, tell the truth regarding medical conditions and habits and use the web to shop and get quotes, as it will be easier and may bring about cheaper results.

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