As we age, mature, and realize the frailty of life, it is natural to question how to prepare for worst-case scenarios. Questions like these come to mind:
Do I need a will?
What will happen to my family if I am injured in an accident, or worse?
Is life insurance a good option for me?
As morbid as these questions seem in an age of positive thinking, it is true that bad things can happen to anyone. How you prepare ahead of time will affect those for whom you are responsible.
As for life insurance, the agents at Whiteside Insurance are available to answer any questions you have. Here are some of the basics you will want to know as you consider this type of policy for yourself.
Let’s say you are just starting a family, and have young children. You really want to have the security of a life insurance policy while your children are young and dependent on you.
Or maybe you are in your senior years and don’t see the need for purchasing a policy beyond the 20 years that you expect to live. A term life policy could be the right fit for you. With a more affordable premium, you can choose a period of time that you want to have coverage, say 10, 20, or 30 years. At the end of that period, you can renew your plan, change things up, or let it expire.
This type of insurance offers coverage for the full lifetime of the insured. It works well for those who are younger, with the possibility of a long life ahead, who can afford the initial investment. You will have higher premiums, to begin with, but will see the reward of the long term investment as you age.
You will also want to ask your agent about details concerning universal life insurance and permanent life insurance. As you can see, there are plenty of options available to choose from to provide the security you want for your family. We can help you put together a policy that meets your specific needs.