We’ve all seen or read about a tragic, unexpected accident taking someone too soon. Maybe you’ve even experienced it yourself with a loved one. Life is short, and you never know when it might be your time.
But there are ways to prepare for these situations—at least financially. Life insurance can be a wonderful gift for those that are left behind. Whether you have a mortgage, other debt, or are the breadwinner of the family, there are many expenses that come after someone passes away. Since September is Life Insurance Awareness Month, we thought it would be helpful to offer some beginning steps to getting life insurance:
- You may already have some life insurance benefits through your place of employment or health insurance coverage—first research what, if any, policies you already have.
- Determine who the beneficiary of any life insurance would be.
- Calculate the amount of income your loved ones will need—both for the immediate aftermath (funeral costs, medical bills) and their long-term needs to sustain the household in the event of your death. Try a Life Insurance Calculator.
- Discuss your needs with your Trusted Choice agent. We’re able to help you decide on several things, including what the policy covers; additional riders or options available; and whether to go with term or permanent life insurance. We’ll get you the best rate for your specific needs.
Hopefully, your life insurance won’t end up being needed. But it’s definitely a good idea to have it to ensure your loved ones are taken care of if tragedy strikes.