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Article: Buying life insurance: choosing the right policy can protect and preserve your assets for your kids without costing their inheritance.(excerpted from 'Talking Dollars and Making Sense: A Wealth Building GuIde for African-Americans')
- Article from:
- Black Enterprise
- Article date:
- October 1, 1997
- Author:
CopyrightCOPYRIGHT 1997 Earl G. Graves Publishing Co., Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Choosing the right policy can protect and preserve your assets for your kinds without costing their inheritance
NO MATTER WHO YOU ARE, MORBID issues like death and dying are totally foreign concepts when you're young and beginning to acquire a few assets. Insurance isn't sexy; you can't drive it, wear it or ear it; and the big payoff doesn't come along until you're gone. Add to that the endless confusion and complexities of the costs and types of policies, and life insurance becomes the most misunderstood area of financial planning.
A 1989 study by the Federal Trade Commission concluded that life insurance is so contradictory that the average consumer, not ...