Life insurance is less expensive when you are young and healthy than it is later in life. If possible it is best to get whole life at this point in your life. Term life could possibly run out of term just when you need it and when you are older and it costs more. But even if you do get insurance when you are young, you can’t just sit back and never think about it again. You need to review it and decide whether it is adequate for where you are in life. At The Insurance Outfit in Chester, NJ, we believe every client deserves to have a dedicated professional they can count on.
When you change employment
Many people have life insurance as a benefit of their employment. Hopefully, it isn’t the only life insurance you have but it can supplement your own nicely. If you have used this insurance as an excuse not to purchase more of your own, it is time when you change employers to consider what you want to do. You may be able to keep your current policy by taking over the payment for it and it may or may not be worth doing so.
When you purchase a home
Part of the value of life insurance is to pay any debt you may have at the time of your death. If you have a mortgage, you should have enough life insurance to pay it off so you don’t leave your loved ones with the stress of trying to figure out what to do about it.
When you get married
Having a spouse and perhaps an eventual family changes your need for life insurance. This is the perfect time to sit down with your independent agent and discuss the amount of coverage you should have.
Contact The Insurance Outfit in Chester, NJ for all your insurance needs.