Life insurance is a very individual thing. What is enough life insurance for your brother, may not be enough life insurance for you. Your life insurance strategy needs to be tailored to your particular life. Most people are not knowledgeable enough about life insurance themselves to guarantee they have the correct coverage. Having an insurance agent you trust makes this a much simpler task. At The Smith Insurance Group Inc. in Sandy, UT, we are a full-service independent agency that is here to help you with all your insurance needs.
Life insurance is something you need to start thinking about when you are young. Rates will likely be lower than they will ever be again. You need to consider the type and amount of insurance you need. Before you start purchasing life insurance you need to ask yourself, who counts on me for support?
Life insurance is not something you buy to protect yourself. It is something you buy for those you may leave behind. If you are single, have no dependents, and don’t have any outstanding debt, your need for life insurance is minimal. You just need to have enough for your final expenses. But if you have plans to own a home, have a family, and have trouble saving, a whole life insurance policy combines protection with a saving component.
Once you have a partner and children your need for life insurance changes. You need to consider how much support they will need and for how long. Experts suggest between seven and ten years of income in life insurance. You need to look at whether that is too much or not enough for your dependents.
At The Smith Insurance Group Inc. in Sandy, UT, we are here to help you get the life insurance coverage you need. Give our office or stop by for a no-obligation quote