Having a good life insurance plan in place can give you peace of mind. You can live worry-free knowing that costs such as debts, estate taxes, and burial fees will be covered. You rest easy knowing that savings account for your children’s education will continue growing; and that the lifestyle you worked hard to provide for your family can be maintained.
Who Else Should Buy Individual and Family Life Insurance?
Most folks imagine that the only people who need to buy life insurance are primary earners in a family. While this is certainly good advice, the benefits of having individual and family life insurance extend to other situations as well:
- Older couples – Getting a life insurance policy for the first time when older might be more costly but is better than nothing. Spouses may still need help with college costs for late-life children and homes not yet paid off.
- Young parents – Whether a married couple or a single parent, even young people with children can have unexpected illnesses or injuries that could leave the family in dire straits with tough medical bills and funeral expenses.
- Stay-home parents – Even if they don’t earn a regular wage, a stay-home parent has high value for the family that will need to be replaced with daycare, not to mention funeral expenses and medical bills.
How Much Life Insurance Do You Need?
The amount of individual and family life insurance you need will greatly depend on how old you are at the time of purchase, your family’s size, your expenses, if you are trying to pay college tuition and the salary of the insured that will need to be replaced. Also, consider if the insured has medical compilations that create a higher premium. That may limit how much insurance you can purchase. Some policies include paying off a home mortgage; the additional cost will depend on the remaining balance left on the mortgage and the property’s value.
Give yourself and your family peace of mind. Getting a Life Insurance quote with Don Hoffer Insurance can help you live worry-free, knowing that debts, estate taxes, and burial fees will be covered and the lifestyle you worked hard to provide for your family can be maintained. Contact us today to discuss which option is best for you and your family.