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Q: When Should I Consider Term Life Insurance?

2011 May 1

Dave does not include Term Life Insurance in the baby steps or debt snowball process since each household has different situations to address.  His advice is that if your death would cause financial hardship for your family then you need life insurance regardless of where you are in the debt snowball.  As you get out of debt you actually are reducing the amount of insurance you need so your peak time for protection is when your family is less capable to maintain their lifestyle because of debt and a lack of savings.

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