What's the difference between a will and life insurance?
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3 Responses
1.31.2010
The purpose of life insurance is to replace your lost income for others who depend on you for support. Wills are essentially "instructions" on what you want done with your assets if you die.
1.31.2010
The will determines who gets your assets at the time you die. For life insurance you pay the insurance company a premium to pay a certain amount to specific people when you die. For instance. My family has some assets and our house paid for, but not enough for my wife to be able to continue to stay home with our children if something were to happen to me. Our will says she gets everything I have, but that won't be enough for her to continue to stay home with our children and not work. So we also have life insurance so that she can use that money to replace my income and continue to stay home. Source(s): My blog: http://gardenstatelifeinsurance.blogspot…
1.31.2010
Maybe You should try to google it first ,nonetheless, if you prefer some direct resource ,here http://www.InsuranceFreeTip.info/insurance-for-free.htm might be helpful.