Finding the right life insurance coverage to suit your needs.
Are you in the market for a life insurance policy? We all know that buying life insurance is a decision that shouldn’t be taken lightly, however, selecting a policy (the right 0ne) isn’t a walk in the park. There are many considerations to take into account, from your family’s needs to your individual budget. With so much at stake, it’s wise to assess your needs before locking yourself into a policy. Here’s how to select the right plan to suit you and your family.
Find out if you need life insurance.
While it is a fact that most people require life insurance, not everyone needs it. If you don’t have any dependents, no one relying on you financially, or won’t have any remaining debt when you pass, you may not require life insurance. If this is the case, it’s always wise to talk to an insurer to be certain that you don’t need any coverage.
Determine your needs.
It’s important to note in this context that there are three types of life insurance to choose from. There is universal life, whole life, and term life. A term policy is set for a period of time of time and ideal for someone on a limited budget. On the other hand, when you require a policy for your entire lifespan and want to accumulate your savings, it is preferable to go for a universal or whole policy.
Look into additional coverage.
It may be wise to consider additional options such as guaranteed insurability and premium waiver. While there are some insurance policies where both or either are included, ask your agent if you can (and should) add them on.
Whether you need to buy group health insurance to comply with the law or just want to put together the best benefits package possible, contact Donald Weiss Insurance Services today! Our Santa Monica, California team can shop coverage options and put together the best group health package for your business in California and Nevada.
