2007-11-21 01:20:35 · 9 answers · asked by Anonymous in Business & Finance ➔ Insurance
Actually the person with the most life insurance would the wealthiest among us like Bill Gates or Warren Buffett.
They don't buy life insurance to protect their family from financial hardship in the event of death like the rest of us do as they already have all of the money any family would need.
Instead they buy huge life insurance policies in order to transfer assets to their heirs tax free. It is an estate planning device that is used all the time.
2007-11-21 03:47:38 · answer #1 · answered by Tom Z 7 · 0⤊ 1⤋
If you are referring to your family.
You should consider the cost to raise a family if you have one. Most the time the stay at home spouse is just as valuable.
Someone above recommended five times your income I would say that 5times is a starting point you should do 10 times. But if price is a issue just get something its a lot better then nothing. Life insurance is an act of love. Your buying it knowing that it will not benefit you.
2007-11-22 13:51:20 · answer #2 · answered by Anonymous · 0⤊ 1⤋
I think you might be asking who in a family?
If this is correct, you should have insurance on both you and your spouse. A GENERAL rule for the amount, is five times your annual salary.
Make sure you get Term Life, not Whole.
For excellent advice, go to DaveRamsey.com
Cheers,
Robin
www.springboardforsuccess.com
www.springboardforsuccess.com/blog
www.groups.yahoo.com/springboardforsuccess
2007-11-21 09:25:11 · answer #3 · answered by springboardforsuccess 2 · 0⤊ 0⤋
That is a real good question... My assumption would be that it is probably writen out of London on the surplus market.
I would however disagree that Bill Gates and Buffett would have the highest as they have accumulated enough assets over their life not to have a large life insurance requirement.
My pure assumption would be athletes as their families revenue would be severly impacted if they died. Generally, athletes dont have billions of stock in a company when their Quarterback dies in a car accident.
2007-11-21 09:37:57 · answer #4 · answered by Dimples_in_NJ 3 · 0⤊ 0⤋
A guess: Bill Gates and Warren Buffet.
2007-11-21 09:25:09 · answer #5 · answered by Stephen L 6 · 0⤊ 0⤋
A very smart person
2007-11-22 17:45:27 · answer #6 · answered by Michael F 3 · 0⤊ 0⤋
the one with the highest income
2007-11-21 16:23:48 · answer #7 · answered by mission_viejo_california 2 · 0⤊ 1⤋
You! Watch out, now everyone is going to try to kill you!
2007-11-21 09:55:57 · answer #8 · answered by Anonymous 7 · 0⤊ 1⤋
Me!
2007-11-21 09:22:36 · answer #9 · answered by Anonymous · 0⤊ 0⤋