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Life insurance benefits no longer taken for granted

Posted On Mon, September 28, 2009

People who could once take life insurance benefits for granted are now finding that this may no longer the case in light of economic changes in recent years.

This is especially the case in Michigan and other states that have relied considerably on manufacturing jobs and the auto industry for the last several generations and which have been hit especially hard in the current recession.

A recent report in the Detroit Free Press focuses on the struggles that many retirees who once worked for the nation's largest auto companies are now enduring.

The companies have had to reorganize, severely impacting things like pensions and life insurance in many cases.

With more people than ever in the market for their own private life insurance policies, there are a variety of affordable options to consider when it comes to helping a family maintain long-term stability.

People with children are often advised to carry coverage to about seven years of their annual income. However, others can also benefit from life insurance for reasons like covering final expenses and being able to leave behind charitable donations.

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