Why Life Insurance
4 reason you should have Life Insurance
1- Peace of Mind
2- Protect your Family
3- Pay off Debt and Expenses you leave behind
4- Provide Financial Security and Cash Flow
Types of Life Insurance
With so many different types of insurance, it can make it difficult to choose the best option. We are here to help you understand your options and make that informed decision.
The two main types of insurance are Term and Permanent. Within those two types of policies are many other opiotns.
Frequently Asked Questions
How much life insurance do I need?
This is an important first step in purchasing the right policy. The rule of thumb is to have between 6-12 times your salary in life insurance. But it will begin with a look at your financial picture.
There are a few ways to calculate how much insurance you should have. I will share one here. [financial obligations you want to cover] – [existing assets that can be used toward bills] = Your life insurance need!
Financial obligations are the following: mortgage, other large debts, child college tuition, etc.
Existing assets are the following: Other saving plans you have, or life policies currently in place.
I have life insurance through my employer, do I need more?
It depends on how your employer's life policy is built. Is it a portable policy that you can have if you left this employment? If so, will the rate remain the same, and what type of policy is it? If the answers are no, then that is one of the main reasons to get a life policy not attached to an employer. This will ensure your protection regardless of your employer.
How do I know what type of life insurance is best for me?
Lifestyle and the reason you are looking for life insurance will play a big part in the type of policy you choose. Are you looking to just pay end of life expenses, pay all remaining debt, leaving behind an inheritance for your loved ones, grow cash value, or have the ability for living benefits? This is why speaking with a radiant agent will help you make an informed decision on the mix of options that will be best for you and your family.