You need life insurance, but you also need to buy the right amount and kind of insurance policy, and our pros will help.  

From Coverage to Peace of Mind:
Tips for Choosing the Right Life Insurance Policy

Why Ensure Your Family’s Financial Security With Life Insurance?

None of us know how long we have to enjoy and provide for our families and homes. Even so, everybody can ensure their family’s financial security even if they pass away unexpectedly. Thus, life insurance offers one of the most straightforward, affordable, and essential financial planning tools.

A few top reasons to buy life insurance to protect your loved ones include:

  • Life insurance companies pay beneficiaries promptly, usually upon receipt of a death certificate. That means heirs don’t need to wait months or years to complete a long, tedious probate process in court.
  • Income tax filers generally don’t need to report death benefits from life insurance. Thus, spouses, children, and other loved ones can promptly receive the money they need to keep paying for the mortgage, tuition, babysitters, or even funeral expenses.
  • Some types of life insurance can provide the owner with benefits while they’re still alive. For instance, they may grow a cash value or have additional features that offer coverage against disability or terminal illnesses.


Do You Need an Individual Life Insurance Policy?

Some people may have a chance to enroll in a group policy through their jobs. That coverage may provide a valuable benefit, but it generally won’t travel after leaving that place of employment for a new opportunity. An individual or joint life insurance policy can travel with you, even if you change jobs, start your own business, or retire.

Insurers base the rates of individual life insurance policies on the age of the person getting covered. They may also charge more or even decline policy applicants with certain health conditions, which older people commonly develop. Thus, to enjoy lower premiums, a more comprehensive selection of policies, and transportable coverage, it’s often better to enroll in individual life insurance as early as possible.

Still, many life insurance companies offer policies to older folks or people with pre-existing health conditions. It’s never too late to speak with a life insurance agent about your best options.


What Type of Life Insurance Should You Buy?

Insurers offer three main kinds of life insurance policies:

  • Term life insurance: Term policies generally provide good value and the most affordable premiums. They expire after their term passes and typically have no cash value. Term life insurance offers an affordable option for people who want to buy larger policies but believe they will eventually outgrow the need for that much coverage. For instance, many younger families purchase term life when they buy a house, and they match the policy’s term to the amount they owe on the mortgage.
  • Whole life insurance: Whole life insurance never expires so long as the owner pays the premium. Also, whole life policies can grow a cash value. Because they don’t have an expiration date, expect this type of permanent policy to cost more than a term policy for the same amount of coverage.
  • Universal life insurance: This type of permanent life insurance also doesn’t expire after a term, and it focuses on growing a cash account and offering a death benefit. It may provide a good choice for people who want to combine a death benefit with another form of saving.


We Help Our Clients Find
the Best Life Insurance Policy
for Their Unique Needs

How Much Life Insurance Do You Need?

Before you can decide how much life insurance you need, you should consider why your loved ones might need the proceeds from the policy. For instance, some life insurance buyers may want to purchase policies large enough to pay off a mortgage, fund their children’s education, or replace their salaries for several years. Others may have more modest needs but want the policy to stay in force until they pass away to pass on wealth to the next generation.

You know you should buy life insurance to protect your family. At the same time, figuring out the best type and amount of life insurance to purchase offers a challenge for most people.

Our experienced team has helped others determine their life insurance needs and understand the finer points of various kinds of life insurance policies. We can also help you compare highly rated insurance companies to find the perfect match. Contact us today to schedule a friendly, no-obligation appointment with our licensed professionals to tell us about your situation, and we’ll show you all the best options.

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