Listen Money Matters - Free Your Inner Financial Badass. All The Stuff You Should Know About Personal Finance.

Do YOU need a life insurance policy?  Liran Hirschkorn from Best Life Quote will give us the criteria to answer that question. There are two reasons you should have life insurance.  Personal reasons and professional reasons.  If you have family who depend on you for income, you need it.  If you own a business, you need it.  But there must be an “insurable interest” on the insured.  So sorry, but you can’t take out a policy on the neighborhood junkie hoping to cash in when they cash out. If you’re a single person and you don’t have any dependents, you don’t really need a policy.  But if you are pretty young and healthy and plan to have a family eventually, you can lock in a low rate by buying now. Life insurance is meant to replace future income.  So if you’re twenty five and making $100,000 a year, you would want a policy worth a couple of million dollars.  This allows your family to continue paying the mortgage, day to day expenses, college fees, all the things the deceased would have paid for. If you’re