Life moves pretty fast, As Ferris Bueller said. It’s easy to miss the big and little changes that happen along the way. If your family has grown or your circumstances have changed, it may be time to reconsider your existing life insurance policy and think about the amount of money that is safeguarding your loved ones. At Low Cost Life Insurance, we can help you determine whether your current policy is enough.
As You Consider Your Policy, Ask Yourself these Questions
- How much of the family income do I provide?
- If I were to die, how would my survivors, especially my children, get by?
- Does anyone else depend on me financially, such as a parent, grandparent, brother or sister?
- Do I have children for whom I would like to set aside money to finish their education in the event of my death?
- How will my family pay final expenses and repay debts after my death?
- Do I have family members or organizations to whom I would like to leave money?
- Will there be estate taxes to pay after my death?
- How will inflation affect future needs?
3 Signs You May Need a Policy Review
If you are concerned about what lies ahead, don’t wait. Review your policy now. Especially if any of these situations apply to you:
- Your needs or financial objectives have changed.
- You’re thinking about your life expectancy.
- You’re coming to the end of your current term life insurance policy.
Ready for a Review? Here’s What to Do Next.
If you’d like help with a policy review, simply call us at 1-877-794-TERM (8376) or visit our website.
At Low Cost Life Insurance, we can help you calculate the amount of life insurance coverage you need and the length of time you need your life insurance protection.A general guideline for the amount of life insurance needed is 10x your annual income. A general guideline for the length of time to maintain your coverage is to age 70.
Once you’ve made this decision, we will help you select the individual plan that works best for your family.
Please know that during these challenging times, the team at Low Cost Life Insurance is here for you. If you have questions about a policy, or if you are interested in term life insurance, please call at 1-877-794-TERM (8376) or visit our website. We hope you and your family are well, and we look forward to speaking with you soon.