You are sitting on your couch, writing out a grocery list, watching your kids play and listening to the hum of your husband mowing the lawn in your Montgomery home. At this moment you feel blissfully happy. Or you are sitting in a local Montgomery coffee shop, enjoying a latte and working on the budget plan for your first small business. At this moment you feel blissfully optimistic.
In these two different settings, in two different life stages, one question comes to mind. Is it time to buy life insurance? If you have reached this point, then you were most likely clouded with follow-up questions. Purchasing life insurance for the first time can seem overwhelming, but doesn’t have to be. We have outlined our tips for making this process smooth and free of frustration.
- Why do you need life insurance?
Life insurance policies are set up to offer financial security for your family in the event of your passing. These policies can pay final life costs, mortgages, college tuition, outstanding debts, attribute towards retirement and is essential in estate planning. If these needs do not meet your current stage in life, purchasing a beginner policy will take care of them when they do arise in the future.
- How do you determine the amount of coverage to buy?
Assessing a sufficient amount of life insurance coverage for your family or beneficiaries can be calculated with our quote calculator. This tool will provide the estimated amount of life insurance needed to protect your loved ones. Keep in mind that this online tool is only an estimate. It cannot provide you with definitive answers and will change with different inputs. Determining the amount of coverage to purchase can also be explained by our brokers.
- How to decide which type of policy is right for your family?
After you have become comfortable with the amount of coverage that you need, there are two main coverage options to choose from: term life insurance offers a more affordable premium or permanent life insurance, which is a more comprehensive coverage that adds cash value. There are different types of coverage to choose from that stem out from either term or permanent policies.
- How to find the best providers?
After you have decided on the amount of coverage needed to secure your family’s financial stability, our free quote tool will provide a list of the top insurers, giving you only the best to choose from.
- Why should you consult a financial professional?
Financial professionals can help determine all of the financial needs for you and your family. They are equipped to take into account financial considerations that you might overlook.
Hopefully, the answers to these common questions will take away the stress and give you the push to get a life insurance quote and see how easy the process of protecting your family now and in the future is.