| Every year, the average American receives around | | | | life policy because it affects your family's interests? |
| $2500 in tax rebates (checks from the IRS with | | | | That's how important your life insurance is. Simply use |
| advance tax paid by you over the amount that you | | | | your tax rebate to pay for your life insurance annual |
| owe the IRS). With President Obama's new stimulus | | | | charges, and it's almost as if you got a free insurance |
| tax breaks, this amount is likely to be higher in the | | | | policy. |
| coming years. | | | | Choose term life insurance instead of whole life |
| The average American treats the tax rebate check | | | | When you buy linsurance with your annual tax rebates, |
| as free 'spend' money, not realizing that it's his or her | | | | opt for term life because it is affordable, and the |
| 'forced savings' money that the government is paying | | | | average tax rebate check can adequately pay the |
| back. So instead of blowing it away, how about using it | | | | whole year's premiums. Remember term insurance |
| in more sensible, lasting ways? The most sensible thing | | | | rates can be guaranteed to remain even for the |
| you can do is pay for your life insurance with your tax | | | | duration of the term, while your tax rebate check |
| refund. | | | | amounts may fluctuate. Term life is the cheapest form |
| Why spend your tax rebate on life insurance? | | | | of life insurance, so even if your tax rebate goes |
| Think about it. The average American's life insurance is | | | | down in any year, you can easily pay for your term |
| less than adequate to deal with life's emergencies. | | | | life. More importantly, shop around online, in order to |
| Toss in the recession and you have a situation where | | | | qualify for the best term life rate class for your |
| many have stopped payments on their insurance | | | | particular situation. Online insurance agency websites |
| policies. Some others have put off buying the much | | | | offer you a choice of low-cost policies from reputed |
| required, additional insurance because it is one of the | | | | companies. If you find a really economical deal, you |
| first things to get struck off a home budget when | | | | may not even end up spending your entire tax refund |
| money gets tight. On the contrary, life insurance is so | | | | on term life insurance. With the money you save on |
| vital to your family that financial distress should always | | | | low cost term insurance, you will even be able to |
| be sorted out without touching your insurance plan. | | | | spend the rest of your tax rebate on a treat for |
| Sometimes, this advice is easier said than done. | | | | yourself, or opt to pay off your bills - the choice is |
| However, put your peace of mind and the comfort of | | | | yours! |
| your family ahead of everything else. | | | | Tips |
| What would happen to your family if you died? Even | | | | When you use your tax rebate check to pay for life |
| family members who are financially independent will | | | | insurance, pay your premiums for the full year. Apart |
| have additional expenses after your death because | | | | from being the sensible thing to do, it will also save you |
| they will have to make do without your salary to run | | | | more money on your premiums because paying the |
| the household, repay outstanding mortgage payments, | | | | full year's premium in one lump sum will work out |
| the unpaid amount on your credit cards, etc. If you | | | | cheaper than monthly payments. |
| take care of certain tasks such as doing the | | | | Once you start paying for life insurance with your tax |
| household accounts, taking care of tax matters, etc | | | | rebate, be diligent to continue it. Do some tax planning |
| currently, your spouse would have to hire these | | | | so that your next year's tax rebate check is likely to |
| services after your death. Without life policy, your | | | | contain enough to pay for next year's premiums on |
| family would be thrown off balance in so many ways. | | | | your insurance. Any money left over, is of course |
| Did you know that even bankruptcy laws exempt your | | | | yours, to spend as you wish. |