You can’t put a dollar amount on your family, but you can ensure their future is protected. We can’t predict when the unexpected will happen, but we can help you prepare for it when it does.
Often when we bring up the topic of life insurance, we hear one of the following:
- “Life insurance is too expensive”
- “I already have enough life insurance through my job”
- “I’m too young to worry about life insurance”
The truth is, life insurance is more affordable than you think, life insurance from your workplace is rarely enough to care for your family if the worst should happen, and you are never too young to think about life insurance.
Here are our suggestions for finding the best life policy for your family’s needs:
Get the right amount. Remember that the amount of life insurance you need is directly related to the dependency of your family. An eight-year-old child is more dependent than a 23-year-old who is out of school and living outside of your home.
Start young. Generally, premiums are cheaper for younger people because they are healthier than the rest of the population. Also, buying young will enable a cash-value policy to grow in value.
Live healthy. Don’t smoke. Tobacco users pay more than twice the premium as non-smokers. Don’t cheat – benefits can be denied if someone who claims to be a non-smoker dies of a smoking-related illness. Improve your insurability and get a better rate by routinely visiting your doctor.
Dual incomes? If you and your spouse are breadwinners, get life insurance for both of you. That way, if either of you passes away, the family’s standard of living will not suffer.
Don’t rely completely on employer-provided coverage. Many group plans limit the amount of coverage offered, which may not be enough for your needs. Additionally, you likely cannot take the life insurance with you if leave your job.
Keep your coverage current. Major life events will impact the amount of coverage you need. Many events—such as having a child, getting married or buying a big house—will increase the amount of coverage you need. Others—such as children leaving the roost—may decrease the coverage you need.
Losing you would be painful enough for your family. The right life insurance can alleviate concerns about the financial implications of your death, and it’s not hard to get a quote.
Choosing the right insurance agent is one of the most important decisions you will make. The Turner Agency, Inc. is a local Trusted Choice® independent insurance agency headquartered in Greenville, South Carolina. Serving the Upstate of South Carolina and beyond since 1962, we offer a variety of personal and business coverage choices and can customize an insurance plan to meet your specialized needs for your business, homes, automobiles, recreational vehicles, secondary homes, and more.
The information in this article was obtained from various sources and is not all inclusive regarding the subject matter. This content is offered for educational purposes only.