Life Insurance 101

BethAnne Cheeley Life Insurance

Life Insurance 101-pic2What are you doing to ensure the well-being of your loved ones after you pass?  Life insurance is a great way to make sure that your family has a financial safety net to fall back on when the time comes.  There are several different options when it comes to choosing a life insurance policy, so how do you know what will be best for you?

First you need to understand what type of policy you need.  Term Life policies last for a specific period of time ranging from 5-30 years.  They are less expensive and expire after the term has ended.  Life Insurance 101-pic1However, if something were to happen within the term of your policy, your family is covered.  The other option is Whole Life.  These policies are in effect from the day your policy starts until you die.  These plans are more expensive because they do not expire, however they are guaranteed to benefit your loved ones after your passing.

life-insuranceYou also need to decide how much life insurance you want to buy.  Consider the potential needs of your loved ones.  There is not a textbook answer that applies to everyone.  Think about what the annual expenses for each family member are.  How old are your children?  How long will they need to be supported until they grow up and become financially independent?  Take the time to calculate these needs and make sure your family will be financially stable.

No matter what your life insurance needs are, our Agents at Accent Insurance Group will be with you every step of the way to ensure the financial stability of your loved ones.