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Life Insurance: Do you have ENOUGH?

How much life insurance is right for you?

As insurance agents, it's part of our job to understand the various insurance needs of our customers, and one of the most important, but often overlooked, is life insurance. How will you family cope if you are gone? How will your family afford things like a mortgage, college, long-term care, business loans, etc.? The necessity of life insurance depends on your own personal and financial needs and here at Smart Insurance we want to assist and help you determine the type and amount of life insurance that is appropriate for you and your family. We believe it's important for everyone to have at least a basic term policy, but especially if:

  • You have a spouse

  • You have dependent children

  • You have an aging parent or a physically challenged relative who depends on you for support

  • Your retirement savings are not enough to insure your spouse’s future against a rising cost of living

  • You have a sizable estate

  • You own a business

And even if you have life insurance, you should review the term & amount if:

  • You are recently married or divorced

  • You have a new child or grandchild

  • You have opened or expanded a business

  • Your health or your spouse’s health has deteriorated

  • You recently purchased a new home

  • You are planning for a child or grandchild’s education

  • You have refinanced your home mortgage in the past six months

  • You or your spouse recently received an inheritance

While there are many different types of life insurance, the most affordable and our most preferred type is a standard term life policy. Term life insurance provides protection for a specified period of time. If you do not currently have life insurance, term can be a good place to start. It’s generally less expensive than permanent (whole) life insurance, and is available in varying time periods with fixed premiums from a one year (annual renewable term) to 20-year (level term) period. Furthermore, term life insurance is sometimes convertible to permanent coverage, providing you with flexibility as your needs change.

The right coverage for you is certainly unique – talk to us today at Smart Insurance and find out how to protect your family and your future with the right life insurance.

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