Ask the Expert: Here are 3 major life insurance mistakes

 Ask the Expert: Here are 3 major life insurance mistakes

What is your advice on this? So I always try to encourage living parents to just list how they contribute to their families and what happens if they die. 

Does anyone have to be hired to do these activities? And it helps them understand why they take out life insurance. 

Any other mistakes you see? 

Another big misconception is that I am young. I'm alone. 

I'm not going to die anytime soon.

Why would I want to spend any of my budget on life insurance? And from personal testimony, when I was preparing to go undergraduate, what my mother decided for me was to get life insurance for me.

And then I said, "I don't understand that," but when it comes to finances, they're very smart. 

And what I thought after life was that my mother had made a very wise decision.If something happened to me while I was in college, my parents would take care of my funeral expenses and anything that I no longer had on this earth. 

On the other hand, my mother actually got a permanent life insurance policy for me.

And so now I have this cash value account growing, which is great for me, because if I decide that I want to withdraw this money from the cash value account and use it as a house or an investment property. 

I will use the balance as a payment, or even as a capital to get a business idea, I have access to these funds. 

They are quite liquid for me now because if I don't now, I've made a 10 year policy. 

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