Do I really need supplemental life insurance?

Ask yourself this simple question: “Do I have anyone who depends on my salary to sustain their standard of living?” If you were to die, would those still alive have trouble covering the cost of your burial? Covering mortgage or rent, car payments and other bills? Do you have remaining medical costs? Would they have enough money to cover all of these bills and still maintain their normal life? If the answer to any of these is “No, they wouldn’t”, then you should consider what life insurance options work best for you and your needs. 

Do you understand “Group life insurance” through your employment?

Group life insurance is a type of life insurance in which a single contract covers an entire group of people. Typically, the policy owner is an employer or an entity such as a labor organization, and the policy covers the employees or members of the group. Once you get fired, leave your job, or retire, you are no longer part of the “group” and your life insurance terminates.

How do I buy life insurance? 

Remember, only do business with a licensed and well-reviewed insurance agent or company. Once you have an insurance agent or company who you feel confident doing business with:

• Decide how much coverage you need, for how long, and what you can afford to pay.
• Learn what kinds of policies will provide what you need and pick the one that is best for you.
• Do not buy life insurance unless you intend to stick with your plan.
• What’s the difference between Term Life & Whole Life