Mukesh Ambani
http://hubpages.com/hub/Mukesh-Ambani – Mukesh Ambani, CMD, Reliance Industries
(RIL) is the eldest son of Dhirubhai Ambani.
Life insurance is important for almost everyone. Unless you are single with no dependents or you have an estate that can take care of your family after you pass away and liquid assets, like cash or CDs, to use for funeral expenses, daily life and estate taxes until the estate is settled, you need life insurance.
Millions of people do not have adequate life insurance and have the possibility of leaving their family in financial jeopardy should they pass away unexpectedly. While it is true that everyone will pass away at some time, all too many people pass away at young ages, before they are financially secure. The past few years have also had an ill effect on peoples’ retirement accounts and widows and widowers are being left financially unstable. For most people, once your children are grown and out on their own, your savings will grow and your partner will be able to survive on the savings.
Life insurance is most beneficial to those with young families who are just starting out in their careers and haven’t saved much, if any, money. A 20-30 year term life insurance policy will give you the peace of mind, knowing that should you pass at a young age, your family will have money to live on and still maintain the same standard of living. A good rule to follow, for buying life insurance, is to get eight to ten times the amount of your annual income. If you have children, make sure both parents have life insurance coverage, even stay at home parents. They provide a great economic value to the family and if they pass, some of the work that they do at home will probably need to be hired out, like hiring a nanny or housekeeper.
Life insurance, after you are financially secure, is also a good idea because then your family will have some additional money coming in and it will be passed outside of probate. This means that while the estate is being handled, you will have the insurance money on which to live. This isn’t necessary, but many feel more comfortable keeping a policy for this purpose.
If you fall into one of these groups, for the sake of your family, get life insurance no
Don’t miss these interested stories: http://www.nlm.nih.gov/medlineplus/healthinsurance.html