How you can get the right life insurance policy for yourself and your loved ones.
Buying life insurance isn’t clear cut. Your policy needs to be tailored to you, the loved ones you want to protect, and the level of protection you want to offer them. To help yourself find the right policy, ask these life insurance questions.
What type should I get?
You can either buy term life insurance (more affordable coverage that expires after its term is up) or whole life insurance (pricier coverage that lasts your lifetime and builds cash value), depending on what your budget will allow and how far in the future you’re planning.
How much should I buy?
When choosing the amount of your life insurance policy, you need to consider 1. How much income replacement you want your beneficiaries to get, 2. What kind of funeral and burial costs you expect to be associated with the end of your life, and 3. If there’s anything else you want your policy to do.
What are my goals?
In relation to the third point above, you may have something you’re hoping your loved ones will accomplish. Maybe it’s paying off your mortgage. Maybe it’s paying for college. Your life insurance policy can help them do that!
For more information about choosing the right life insurance policy, contact the Spokane, Washington staff at Accurate Insurance Inc.