Insurance

Protecting your family with life insurance

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September is Life Insurance Awareness Month. Financial professional Tony Zimmer from Trifound joined us to talk about who should be covered and what options are out there.

1. Know the Types
There are two main categories of life insurance policies. Term policies cover you for a specific number of years, and if you pass away during that time, a set amount is paid out to beneficiaries. Permanent policies cover you for life and are typically more expensive.

2. Identify Your Needs
Think about what you want to accomplish with your life insurance. Are you hoping to cover funeral costs or pay off a mortgage and fund your child’s education? Then, weigh those goals against the cost. The higher the benefit, the more you will likely pay in monthly premiums. A good place to start is a life insurance calculator, and here’s one from Tony’s website, www.trifound.com.

3. Compare Policies
Shop around before choosing which company you will go with to make sure you get the best rate. And pay attention to the fine print to make sure you are comparing the same coverage.

4. Re-evaluate
Life insurance isn’t something you can set and forget. You should re-evaluate your policy with every major life milestone, like getting married, buying a home, having children, etc. Even if you don’t hit a major milestone, you should still take a look at your policy every 2-3 years to make sure it’s still fitting your needs.

2 Comments

  1. For best insurance services use a registered insurance broker. The service he renders is free by custom and beneficial to insured.

  2. eMfcHY It as really a great and useful piece of information. I am glad that you shared this helpful info with us. Please keep us informed like this. Thank you for sharing.

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