Life insurance is an essential part of good financial planning. It provides peace of mind; helping to ensure your loved ones are protected. Are you considering a life insurance policy? A life insurance policy costs less than you think. Provide protection for your family should the worst happen. Your life events are good prompts as to why you should look into life insurance.
1. Marriage - Family Protection
A life insurance policy is beneficial when you are married. It is highly recommended especially if you are the sole income earner in the relationship.
2. Children - Family Protection
Having children add meaning to your life in ways you’d never expect. A life insurance policy can provide the financial support of your children's future should you not be there to help pay for it.
3. New home - Mortgage Protection
It's exciting to be a homeowner. Buying a home is typically a long-term commitment that comes along with a mortgage.
Having a home is where you build your lives and memories with your family. Maintaining a certain lifestyle can be difficult especially on a single income. If you recently purchase a new home or plan to upsize, it is recommended to review your current home insurance coverage and see if your life insurance policy can be beneficial as additional coverage.
4. New Job or Job Promotion - Family Protection
When your employment status changes your employer's life insurance plan will also change. Check your eligibility and your option to convert your employer's group plan or you might want to consider purchasing life insurance on your own.
5. Business Owners - Key Protection
There are many reasons why business owners need life insurance. First and foremost, you want your family to get properly compensated for the business you’ve built. Secondly, a life insurance policy can ensure the continuity of the business reputation you've established over the years.
Protect Your Family and Loved Ones
At first, determining what life insurance policy is right for you can be difficult to understand because of the perplexing choices. It can be hard to know how to start. Make sure you speak to a knowledgeable agent that can assist you to select the best insurance provider.
With all of these important life events where a life insurance policy is essential, it is also important to remember to review your other policies regularly to make sure you have the right amount of coverage to fit your needs.
Written by top insurance agent Ron Miranda from Orange CA