A life insurance policy provides your family a lump sum payment if you happen to pass away as to ensure their financial security in the wake of your absence. It’s a simple, but very effective concept that can ensure your family’s livelihood for years to come.
When you buy a life insurance policy you essentially enter into a contract with the insurance company that guarantees a payment to your beneficiaries (Assuming you kept up with your premiums!). 
The upside to this process is there is almost no delay with the payment upon death and there is a factor of privacy since there is no probate period (These processes usually are made public, so anyone can see) for your beneficiaries to go through—and this payment is typically tax-free!
If you have a Term life insurance policy, this period of protection will only last through the life of the policy (10, 20 years for example), and a Permanent policy lasts through your death assuming you always pay your premiums on time! Both of these types of insurances can be very useful when utilized correctly, so find which one is the best fit for you!
family you shouldn’t leave them high and dry without any type of financial assistance if something were to happen— if you have debt this becomes very important too since if your children are not adults, creditors will take from your estate to pay your debts, potentially leaving them with nothing! Or if you have a mortgage, you’ll want your family to be able to either keep up with the payments for the foreseeable future or to be able to buy the family home outright. So as I was taught in Boy Scouts: always be prepared, in all aspects of your life (Even Life insurance)!
Yes, there are some situations where you may have free home warranty coverage on your home. These scenarios differ and have their pros (Well…it’s free!) and their cons.
Home warranties and home insurance both cover surprise issues with your house and the comforts that are inside, but there are differences between the two that should be addressed!
help you save money if you have a plan that replaces an appliance if a repair cannot be made. Think of home warranty as something that helps when an appliance naturally goes to pasture, and home insurance as something that helps when an appliance gets knocked out by various acts of destruction!
A home insurance policy is what you want to have when things like damage happens to your home through acts of god, fires, and theft. Each of these things are hard to swallow thinking about, but this is a necessity in the world of homeownership (And required if a house is mortgaged). These policies are renewed yearly, and price can vary depending on the coverage— and like most other insurance policies out there, you will have to pay a deductible when you make a claim!
If the principal is paid out, then you will be on the hook for the amount and the bonding company will then demand the money from you! It is always extremely important to treat surety bonds with respect and to always carry out the commitments that are promised by them!
noodle and seeing that it’s not as intimidating as it seems! These 3 mistakes are what I have found to be the most common:
It happens, there are those rare few stories out there about how obligees have been victimized by an unsavory (Usually unregistered) surety. But to make sure that you are always getting what you agreed to, always do business through reputable agents, make sure that they are registered with the state by talking with your state insurance commissioner or by verifying membership through one of the various national surety bond associations just to make sure!
Otherwise you will have to do the process again and possibly face judgment! Just like those nightmarish days in college, deadlines do matter!
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