From Fur Babies to Fire Hydrants: Your Home Insurance Premiums

When I got my kids a dog, I had no idea that it could affect my homeowners insurance. I happened to run into my insurance agent in the store when I was buying dog food and he asked me what kind of dog we had. When I told him, he said I should stop in the office the next day. I had no idea that things like this could affect premiums, so I started asking what else could do it as well. I created this site to help others understand some of the finer points of homeowners insurance and what they should think about to manage their rates.

Three Questions To Ask When Purchasing Life Insurance

Insurance Blog

Purchasing life insurance is definitely something to consider when you have an income that is supporting more than just yourself. However, before jumping into purchasing life insurance, you want to be sure that you are purchasing life insurance that is right for you. There are many differences in all life insurance policies that make a huge difference in how much financial support you are leaving your family. Here are three questions to ask yourself before making the decision on which life insurance is right for you:

Who Are Your Dependants?

First off, you want to know who you are leaving the life insurance to so that you end up purchasing enough while also not purchasing less than what you need. The amount you you purchase should be enough to pay for your child's college education, for example, or for your parent's elderly care if this is something you would have had some responsibility for. When you distinguish what future needs your dependents need, you can better determine exactly how much you are going to need. 

What Can You Afford?

Next, you need to figure out how much you can afford to pay every month for your life insurance. This is going to affect how much insurance coverage you can have. It's important to talk to your insurance agency about your needs and budget for life insurance so that they can work to meet these needs. You should also consider increasing your insurance amount even more if you can afford it and feel that your dependents can use it, especially when it comes to paying off your outstanding debts. 

What is Your Health Like?

Having both term and permanent life insurance is ideal for those with great health since you won't have to renew your term insurance later on in life should you need to since you will have a highly established permanent life insurance policy. However, you can also adjust your term insurance if you do wish to renew to fit more to your needs if your permanent insurance is not going to provide with the full amount needed should you pass. 

Answering these three questions when purchasing life insurance, will ensure that you are able to have life insurance that fits you and your family's needs. Be sure to always go over your policy with your insurance agent to be sure that all areas are covered, especially if you are going to renew your term insurance and need to make adjustments. 


5 May 2017