For a lot of people, the first thought you have about purchasing a life insurance policy comes after a life-changing experience like marriage, having your first child, or maybe even witnessing a friend struggle financially after the loss of a loved one. Once you’ve decided to protect your family with life insurance, you will probably have a lot of questions. We hope to help you answer some of the most popular questions our first-time clients have.

Why Do I Need Life Insurance?
Life insurance is a financial safety net to support your spouse, children, or other loved ones after you pass. From funeral expenses to replacing the income you brought into the family, life insurance is a good way to secure your family’s future.

What Do All These Terms Mean?
There are a lot of words and phrases you may come across when looking for a life insurance policy. Check out this link for more information on these terms: Life Insurance Lingo

What Type of Policy Should I Get and How Much Will My Family Need?
There are two basic types of life insurance policies. Term Life is valid for a certain number of years (usually somewhere between 5 and 30). These policies expire at the end of their term but have cheaper premiums. In the event that you pass within the term, your family will receive the benefits. Whole Life policies are permanent and are valid from the start date until you die. These policies are more expensive but are guaranteed to payout upon your death. As far as how much you need, that can vary from person to person. Take into consideration how much income you bring home to your family, how many children you have, and how long your loved ones will need to be supported.

Who Should I Talk To About My Policy?
You should always consult a professional who can guide you to the right policy and company that will best suit your individual needs. Every situation is different but our agents are willing and able to sit and talk with you about your options and make sure that your family is protected.

What 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.  However, 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.

You 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.

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