Life Insurance Questions?

I am 21 years old and just having a browse through life insurance, it seems like a good thing to be setting up, but I have a few questions.

What is a good amount to set it at? (I presume that means the payout on death)

You can use a life insurance needs calculator to quickly determine how much life insurance you really need.

What happens if the life insurance policy ends after say 10 years?

If you bought a 10 year term life insurance policy and outlived the 10 year period, your life insurance coverage ends and you get nothing. It’s life insurance, not an investment.

Say it was a $50,000 death benefit payout, how much would the person set to recieve it on my death actually get after tax? I believe here is no federal income tax on proceeds received from your life insurance policy.


About termlifeonline
Thanks for visiting my blog. I write for several insurance blogs and for Term Life Online. I have more than 20 years of insurance experience.

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