Answers To Your Life Insurance Questions
Do I really need life insurance?
You need life insurance to protect your loved ones if something were to happen to you. Very few of us have no debt and enough savings to leave behind for our families to last them for decades to come. According to LIMRA, nearly 4 out of 10 families would run out of money one month after the passing of the primary breadwinner. With so many affordable life insurance options, life insurance is one of the smartest investments you can make.
I don’t own a home or have a family – do I still need life insurance?
You don’t need to be married, have children, or a mortgage to need life insurance. The average person carries $10,000 in credit card debt alone – don’t leave that debt behind.
How much life insurance do I need?
This is easily the question we get asked most often. Fact: According to LIMRA, 20% of persons who already have life insurance don’t feel they are adequately covered. To help you avoid that mistake, you can speak with a licensed insurance agent who can help you determine the level of affordable coverage that is right for you.
Why should I have life insurance?
Life insurance is a great way to protect your family’s financial future in case something happens to you. Your family could be left without the funds to cover household expenses, credit card debt, education costs, mortgage payments, and income replacement if you were to pass away without a life insurance policy.
Life insurance seems confusing – can you explain all of these different options & terms?
How much does life insurance cost?
According to LIMRA, 44% of people pass up life insurance or buy insufficient coverage because they have other financial priorities. We work with our partners to offer you a wide variety of coverage and policy options so you can get a premium that works into most family budgets.
I have minor health issues; can I still get life insurance?
We’re constantly working with our partners to ensure everyone has access to a life insurance policy that meets their needs. In rare instances, we may not be able to help you find a life insurance policy. We have solutions for most circumstance. Our licensed insurance agent partners should be able to assist you with a policy even if you are a smoker, overweight, or have other health concerns.
I already have life insurance through work; why do I need my own life insurance?
Most work-sponsored life insurance coverage levels are capped as a multiple of your earnings and end immediately if you retire, resign, or are terminated from employment. A life insurance policy that isn’t employer-provided ensures your family the levels of coverage they need for decades to come regardless of what happens at work.
How do I choose the right life insurance policy?
Each person’s life insurance needs and circumstances are different, so we need to understand more about you before answering this question. Tell us a bit more about yourself and we will match you with a licensed insurance agent who can answer all of your questions.
Can I change my mind after I buy a policy?
Absolutely. Our partners will work with you to make any changes as your needs evolve.
I already have a life insurance policy – should I replace my existing policy or add to it?
We recommend discussing that with one of our partner licensed agents. A licensed life insurance agent will be happy to analyze your current policy, identify coverage gaps, and ensure you have the right amount of coverage for your family’s protection.
I have more questions – how can I speak with a licensed insurance agent?
Does my social security help pay for final expenses?
The Social Security Survivors Benefit Program pays a single $255 lump sum death benefit to a surviving spouse if something were to happen to you. Compare that to funeral costs that can rise as high as $10,000 – it is easy to see why final expense insurance is a smart investment is.