Life insurance can be an incredibly important financial safeguard for your family and loved ones, ensuring they have the care and comfort they need should something unexpected happen. It is vital that you purchase life insurance wisely to get the most benefit out of it.
Unfortunately, there are two mistakes people commonly make when buying life insurance.
Firstly, never limit yourself to the life insurance plan offered through your employer, as these plans are often limited in coverage and do not meet everyone's unique needs.
Secondly, ensure you list all your beneficiaries correctly; don't forget about any new additions or make assumptions about who might be in charge of a given asset if you pass away unexpectedly.
Taking these extra steps will help to ensure that your life insurance goes where it needs to be if something were to happen to you.
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