Questions to Ask When It Comes to Life Insurance

Your life insurance needs will ebb and flow throughout your lifetime. Buying a term policy early in your career or taking a basic employer-issued life insurance policy is a common course of action.
However, deciding how much and what type of life insurance you need at each stage of your life will serve you and your loved ones much better.
One simple thing to keep in mind throughout this process is that the more responsibility you have, the more life insurance you need. Here are a few questions to consider:
• People in great health who have only a little bit of wiggle room in their monthly budget may want to consider a combination of term and permanent life insurance coverage.
• Your clean bill of health will keep premiums for both types of insurance lower than if you have major health issues. If you have a term life insurance policy but want more coverage, adding a permanent policy to the mix may be the ideal answer.
• By adding a permanent policy with a cash-value element to your portfolio, you also open a world of options that could help add to your nest egg in retirement, start a business, or pursue a second career, among other benefits.
• It is possible to have multiple policies and customize your life insurance to your changing wants and needs. Choosing a policy or combination of policies that gives you and your family the greatest potential benefit may seem tricky. So, simplifying the process by asking these three questions will set you on the right track.

May 5th, 2017 by Goodwill Financial