Why It Pays to Get Life Insurance Even if You Don't Have Kids

Why It Pays to Get Life Insurance Even if You Don't Have Kids

Furthermore, if you limit your death benefit to a reasonable number, your policy doesn't have to cost a fortune. If you have $150,000 left on your mortgage, you may get a policy with a $200,000 death benefit -- enough to pay off your home, cover funeral expenses, and give your spouse a little financial cushion. A $200,000 death benefit is apt to cost a lot less than a $500,000 death benefit that you may not need.