What You Need to Know About Life Insurance

Life insurance is an important financial tool that can help protect your family from financial hardship in the event of your death. However, there are a few things you need to know about life insurance before you buy a policy.

• You may have more life insurance than you think. Many employers offer life insurance as a benefit to their employees. You may also have life insurance through a credit card or bank account. It’s important to track down all of your life insurance policies and make sure you know what they cover.
• Your family needs to know about your life insurance policies. When you die, your life insurance company won’t know unless someone tells them. Make sure your family knows where to find your life insurance policies and who to contact to file a claim.
• There are different types of life insurance. Term life insurance is the most common type of life insurance. It’s affordable and provides coverage for a set period of time, such as 20 or 30 years. Whole life insurance is more expensive, but it provides coverage for your entire life. Annuities are a type of life insurance that can provide income for you in retirement.

An independent insurance agent can help you choose the right type of life insurance for your needs and budget. They can also help you make sure your family has all the information they need to file a claim if you die.