Life insurance and accident and sickness insurance offer you protection against household financial loss. These types of insurance policies provide protection and coverage for mortgage and other debt, income replacement, and tax liabilities that may arise upon the death, accident, or sickness of a household income earner. This area in financial planning is often overlooked, but without the proper type and amount of insurance protection in place, a family’s future financial goals could face an extremely tough setback. Put the right amount in place while it’s top of mind, because, with each passing year an individual goes without affordable insurance in place, it gets a little more expensive to purchase. This is mostly because as you age the actuarial experts cannot alter the lifespan factors that go into pricing. By putting off the critical insurance decisions, you run the risk of derailing your financial position and future when coverage is needed and not in force.

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