Life rarely goes as planned. While a tragedy may be relatively unlikely, the reality is that it’s certainly possible. Thinking about how your family would function without you can be disturbing and unpleasant, but if you’re working to take care of them now, you’ll want to ensure that they’ll be protected should the worst-case scenario occur. Life insurance is one of the best way to do that.
It’s a smart move to get life insurance if you have a spouse or other family members who depend on you and your income, especially if you don’t have a large savings account.
Experts suggest getting coverage equal to 10 times your annual income, if you can afford the premiums. Anything less doesn’t provide much transitional time for your surviving spouse or children. You don’t want to put them under time pressure while they try to adjust to life without you. You should basically consider all your financial obligations and deduct your current investments and assets, as well as the impact of the loss of income for the household, when determining the amount of life insurance that makes sense for you.
But what kind should you get? The most popular is term life: you pay a fixed premium that covers you for a specific period, usually 10 or 20 years. The other major category is called permanent life insurance, because the coverage continues for life.
To get help with assessing your life insurance needs, speak with an independent life insurance agent at Mintco Financial. Mintco Financial agents provide unbiased information, as they work with multiple life insurance companies and do not promote any one insurance company’s products. An independent agent will help you evaluate options that meet your needs so you can make an informed choice.
Call us today and get your policy delivered to you within a matter of days:
Or apply online:
Call Mintco Financial at 716 565 1300 or 813 964 7100
Compare term life insurance quotes online at www.MintcoFinancial.com