Life insurance is often overlooked, but it is important to have a policy with appropriate coverage in place. Having life insurance is beneficial because it can be used to pay final costs, provide financial security to beneficiaries, offer the chance for charitable contribution, pay estate taxes, and cover unpaid debt.
When choosing a life insurance plan, you should consider the purpose of your life insurance policy and choose a policy that is at least 5 to 10 times your annual salary. In the following infographic, United Systems and Software has provided everything you need to know about life insurance.
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