What to Look for in Life Insurance
Updated: Jun 24
You’ve probably heard that life insurance can pay off your mortgage, fund your kid’s college education, service car loan, supplement retirement savings, and pay funeral costs.
However, shopping for life insurance is no walk in the park. It can be confusing to know what type and how much policy to buy.
If you’re buying life insurance, look for:
A policy that meets your needs
First, you need to determine which of term life insurance or permanent life insurance is right for you. Consider term life if you need life insurance for a specific period, say 10, fifteen, twenty, or thirty years.
If you need life insurance to cover you for as long as you live, permanent coverage is best for you. Then, calculate how much you’ll need to help fund funeral costs, retirement, mortgage payment, children’s tuition, what you’ll need to replace your income, etc.
Coverage you can afford
Can you afford your annual premiums? Before buying life insurance, check if the premium fits your budget for the entire policy term.
For instance, you shouldn’t choose a life policy cum savings plan if you will be unable to pay the high premium regularly.
A reliable insurance provider
When shopping around for an insurance policy, you want an insurance provider you can trust to be there when you need it.
A reliable insurance provider should pay genuine claims promptly and in full. To ensure you buy from a reliable company, you can rely on the expertise and relationship independent agents have built with several top insurance brokers.
Getting your insurance
Joyce Insurance has been helping to find insurance coverage that offers the most protection for more than 20 years. Our agents will discuss with you to understand your unique peculiarities and help you get the policies that suit you at the most competitive pricing. Connect with us today to know how best we can protect you and your employees!