Many people avoid buying life insurance until it’s too late. Life is unpredictable. All of us are vulnerable to accidents, aging, and illness. We also have the unexpected things that happen. Death is an unavoidable reality; it’s not a matter of if, but when.
1. Stop Procrastinating.
The focus of life insurance is truly about extending your love, and concern by helping protect your family’s financial security, when you are no longer around to take care of them.
2. Things to consider when thinking about financial planning for the future:
- How can I ease the burden of loss from my premature or unexpected death by covering final expenses?
- How will my family pay for my funeral costs, my outstanding debts, daily living expenses, and future expenses like medical bills, the mortgage, if I am no longer here?
- How much life insurance coverage do they need?
3. Know your options.
Buying life insurance is easier than you think. Ask questions, feel comfortable and understand the type of policy you are purchasing. What are the options that work best for your situation? Life insurance provides many options to protect your family and finances, making it that much easier to find the right balance of affordability, flexibility and protection.
4. Determine if you have enough life insurance coverage.
There are many factors to take into account when figuring out how much life insurance is right for you. One of the advantages of buying individual life insurance from a private carrier is you are free to choose the kind of coverage which is suitable for you, plus you can add other benefits and features you want or need. If you are an employee with a company, a member of a union, or an association it’s likely you already have some type of life insurance protection offered through a group life insurance policy.
However, most often the case is you have no control over the plan design or the benefit it provides. Unfortunately in many cases the amount of coverage provided by a group life insurance policy is limited and may not be enough to meet your dependents’ needs.
If you lose your job and you have employer-sponsored life coverage, your group life policy may terminate when you leave your employer, union or association. You are then left with no protection. The biggest disadvantage of an employee sponsored group life insurance is you do not own the policy, and you have no control over your individual coverage.
It makes sense to supplement your group life policy to compensate for any shortfall, or to close the coverage gap. Overall it’s always a good idea to purchase an individual life insurance policy that’s designed to fit your family’s needs with adequate coverage and benefits you want.
Our agents can help determine how much and what type of insurance makes the most sense to you, and help you get the coverage in place.
If you would like to know more about affordable life insurance products and services, contact the Pettineo Insurance Agency at 954.493.9424 or visit our website, pettineo.com
Pettineo Insurance Agency Inc. provides life insurance in Fort Lauderdale, Lauderdale-By-The-Sea, North Lauderdale, Pompano Beach, Oakland Park, Boca Raton, Deerfield Beach, Hollywood, Sunrise, Coral Springs, Pembroke Pines, Sunrise, Tamarac, Plantation, Lighthouse Point and all of Florida.
