Your Health Care 360º

It’s easy to get excited about budgeting for a vacation ...or even a massage. But setting money aside to pay the life insurance bill falls flat in comparison. It’s hard to invest in something that doesn’t present us with something I can hold today. It’s hard to know what kind of insurance you really need, slick salesmen aside. It’s easy to put off until you end up in a desperate situation. Even if death itself doesn’t scare you, the thought of leaving your family behind without any means to survive is a thought you’d rather do without. If you have it on your list of things to do to research and buy life insurance, here’s one place to start. Shopping for life insurance is as easy as 1, 2, 3.

  • First, decide who needs the policy? What will the financial burden be if you pass away? What about your spouse? A lot of people think life insurance is a no brainer on the head of household, the person who brings home the bacon, but what if the breadwinner survives the loss of the spouse who stays at home? Who fries the bacon then? Do you have the cash to hire care providers for the kids? Think about how the death of any individual person will impact the family. God forbid a child should die, but some people hold life insurance on their children just to cover funeral costs. These are things we don’t like to think about, but we really should
  • Once you know who needs coverage, decide what kind of policy you need. How will a death or disability impact your budget and how reliable will the benefit payout will be in the event you have to use it? Some people find higher yields in other investments. That’s something you have to evaluate individually.
  • Evaluate your policies once a year to make sure you have the right amount of coverage and to determine whether any new policies are more suitable for your needs.

If you’re not sure where to go from here, it might be a good idea to work with a broker like 360º to help you evaluate your options. We can help you work through what type of plan you need and present a few comparable carriers to streamline your shopping.

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