Answering Common Questions About Life Insurance
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Answering Common Questions About Life Insurance

Purchasing life insurance can be quite overwhelming. There are many things to think about, including prices, coverage, and who will be your dependents. Here are some frequently asked questions concerning life insurance claims that will be beneficial in making your decision. 

How much life insurance should I buy?


This depends on how much you feel comfortable with buying, but generally speaking, it is a good idea to purchase a plan that is 10 times your annual income. Of course, start off with as small of a plan that you feel comfortable with, and then slowly build.

Is life insurance even necessary?


Across the nation, only about three in five people own some type of life insurance. While another 34% report a likelihood of making a purchase within the coming year, some individuals don't believe life insurance is necessary. Simply put, the whole reasoning behind investing in different life insurance plans is to protect your family financially in case anything happens to you. Just having the sense of security that your family is protected in case of the worst will give you peace of mind for the future. 


How long of a term do I need to buy?


Depends on your age. For example, if you are in your 30s, then you should start out with a 30-year plan. This will give you about 30 years to create a stable nest egg to fall back on. If you have any questions, one of our life insurance specialists will be able to recommend a plan that will work the best for your needs.

Can you explain the process of underwriting to me?


When purchasing a life insurance claim, the company you are going through will need to complete an underwriting process. This is when they evaluate your lifestyle and determine how much it will cost to provide coverage. Some factors they consider include your age, your overall health and if you suffer from any long-term conditions, your family health history, and whether or not you work in a hazardous occupation such as construction work.

Have a life insurance claim or other questions about life insurance? Please contact our professionals today and we will help choose the right plan for both you and for family.
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