Life Insurance

Nothing is more important to you than protecting your family and your assets.

To adequately safeguard your greatest treasures, consider the following types of Personal Insurance Coverage, and contact our experts to personally answer your questions.

There are many variables to determining a custom quote for life insurance coverage:
May people buy life insurance to ensure that their loved ones stay financially secure after they die. As a result, income replacement is the primary reason people buy life insurance. However, non-earning caregivers also have an important, but sometimes unrecognized, value that should be covered by life insurance. Life insurance is also an appropriate purchase if you are interested in specific business or estate-transfer goals. Since there are many types of life insurance policies depending on your goals, and almost as many price differences, here is an easy-to-understand guide to help you shop for life insurance:

• Assess the amount of life insurance you need
• Decide on the most appropriate policy type to meet your goals, such as term, permanent, universal or variable universal
• Choose an insurance company by its financial strength ratings
• Collect competitive quotes until you find a good price
• Learn the ways to save money on life insurance

Life insurance is a long-term proposition, so you should pay particular attention when you make your initial purchase, and throughout the life of the policy, to your life insurance company's financial stability ratings. These ratings demonstrate the ability of your company to pay its claims.

Assess your life insurance needs

The first step in life insurance planning is to analyze your life insurance needs, that is the economic needs of dependents you leave behind:

• Before purchasing a life insurance policy, consider your financial situation and the standard of living you want to maintain for your dependents or survivors.
• Add in the longer term financial needs of the remaining family members, such as children's expenses, surviving spouse income, mortgage and other debt payoffs, college education funds and  emergency funds

Life insurance needs change over time. Your life insurance amount should be reevaluated periodically. Revisiting the coverage of your policy once every five years or when you experience a major life event such as a change in income, or a major purchase such as a house or business.

You will usually have a declining need for life insurance as you age because fewer people depend on you for income. Exceptions to this strategy include protecting a business or paying taxes on a large estate for heirs. If you are buying life insurance to pay estate taxes, you'll need permanent life insurance, in-force as long as you live and pay the premiums.