Frankly, the purpose of Life Insurance is to provide for your loved ones in the event of your death. Though perhaps unpleasant to think about, Life Insurance is a way for families to look out for one another in the case of the unexpected, as a means to help the surviving members of the family handle their expenses, be it a mortgage, college tuition, or your lost income.
There are different types of Life Insurance and several different ways to go about getting a policy. Depending on your circumstances, age and health condition, you may want to choose one plan over another.Get a Quote
Term Life Insurance offers a simple Life Insurance plan for specific term of coverage, typically 10 to 30 years. These plans are usually more affordable since the insured pays a premium for a set amount of time. Families may opt for term coverage during a period they would need it most, like if they have children or if they have a mortgage.
Many people don't start thinking about Life Insurance until they have something other than themselves to protect, for example, a relationship, a family or a mortgage. While this may be typical, choosing to open a policy when you are young and healthy can likely ensure you'll get and be able to lock-in a lower premium. Even single young adults have end-of-life costs and debts that, without Life Insurance, can be left to their family. Life Insurance can help pay for these costs, and may even leave a legacy.
There is no "right" or "set" time to start thinking about Life Insurance. It depends on your personal risk tolerance. If the unexpected happened, what would you leave behind? Would Life Insurance help protect your family? If the answer is yes, you may want to start thinking about Life Insurance.
There are several factors to consider when choosing a Life Insurance plan. First, you should assess your needs.
How much of a death benefit do you and your family need? Think about what it would mean for your family to lose your income, now and over time. What would your family need to maintain your standard of living? Consider lost income, unsettled debts, and upcoming costs, such as college tuition.
How long do you need coverage? Does life-long coverage make sense for you and your budget or are you searching for a cheaper alternative? If you only need coverage for specific time period, such as a mortgage or your child's college years, Term Life Insurance may be a more affordable option.
If you are unsure of your needs and what plan is right for you, be sure to speak to an agent. You can call MyLifeProtected at XXX-XXX-XXXX.
The cost of Life Insurance depends on several factors: your age, the length of your policy and how much of a death benefit you wish to receive. Those who are younger and healthier, those who are seeking a shorter term and those whose death benefit is modest, will likely pay a lower premium than older adults seeking a large whole life policy. Since there are several types of plans available, as well as different options for death benefits, you can find a plan to fit your budget and your family's needs.
Depending on the type of plan, you can get a Life Insurance quote right now online. Other plans may require a medical exam in order to get a quote, and some may have you fill out a quick questionnaire before providing you with a quote. Get started on an online quote today.
Yes. You can get a quote for Term Life Insurance to help protect your family. Learn more about these plans and get a quote.Get a Quote