Starting a family is one of life’s greatest joy’s, yet it also comes with making some tough decisions about their safety in case of your absence. Choosing a life insurance policy that is best for your family can be daunting to first-time buyers. This guide will shed some light on any questions you may have.
So What Exactly Is Life Insurance?
A life insurance policy allows your family to cover funeral expenses in the event of your death, as well as covers the major expenses of shelter, food, health care, college tuition and other necessary costs that your family may need without you as the major provider.
How Can You Determine Coverage?
Being able to determine the exact amount of life insurance coverage you and your family needs can be difficult. There are several ways to determine the amount of coverage your family may need, including online tools such as Mint. Some banks offer online assistance as well.
Different Types of Life Insurance Policies
The next hurdle you’ll encounter is determining a policy type. Term and whole life insurance policies get a lot of attention when it comes to shopping for life insurance, and each has their merits. For a small family starting out, term policies may work out best.
What About Disability Insurance?
Young families don’t need to worry about disability insurance as much as an older family does. Although disability insurance provides many of the same benefits should you become disabled instead of die, this isn’t something you should worry too much about if you’re just starting out.
If you’re starting a new family in or around Harrisburg, PA and looking for a life insurance policy to keep them safe, Henderson Insurance Agency is here to help you find the right policy to fit your needs. Together we can help you navigate this confusing topic and provide you with the coverage you need.