Did you know many people avoid buying life insurance because they think it’s complicated and hard to get? They are leaving their families unprotected because of the many misconceptions surrounding life insurance. We noticed this and decided to create this complete guide and make life insurance simple to understand and secure. In this post, we would cover the basics of shopping for life insurance. For example, do you really need life insurance; is it expensive and can you get life insurance without a medical exam, and what are the exact steps to take in order to buy life insurance?
Life insurance is the greatest proof of love that we can leave our loved ones.
Do I need life insurance?
This is a valid question. In reality, not everyone needs life insurance. However, the majority of us do. The simple test is to ask yourself: “will someone suffer a financial loss if I’m gone”. If the answer is yes, you need life insurance. Obviously, there is a bit more to it, and that’s why we’ve outlined the scenarios one may need life insurance and how to determine how much they need.
What is life insurance and some of the most common questions answered
Everyone knows that life insurance is a policy issued on one’s life. If the person passes away, his beneficiary will receive a check from the company. What many people don’t realize how important in fact life insurance is for families.
Should you pass away, your loved ones will need money to pay for your funeral (and as we all know, they are not cheap), possibly medical bills and personal time. We wanted to elaborate on personal time. A lot of people forget this one big factor. Our family can NOT go back to work on Monday as if they just didn’t bury you a few days ago. They would need time to comprehend their new normal and adjust to it. Time costs money. This is where normally life insurance comes in.
Here are just a few of the most common questions we get:
- How much coverage do I need
- Who can be my beneficiary
- When is the best time to buy life insurance
- What type of policy is right for me and etc
- Ways the policy will payout