410-420-2828
When you work full-time for an employer, part of your benefits package includes life insurance. But if you’re self-employed, unemployed, or retired, do you need life insurance? The answer depends on your individual situation.
If you’re single and have some savings that would cover funeral expenses if you died, it might not be necessary. But if you have a partner, spouse, or children and you’re the higher earner, or sole breadwinner, getting individual life insurance is a good idea.
That’s because a life insurance policy can help pay for more than your final expenses. Depending on your income, your monthly bills, and the age of your children, you will want to get enough life insurance to cover major expenses after you’re gone.
These can include:
If you have a family and there’s a sudden loss of income, you need a safety net to help your family stay in your home and have a bright future, without struggling to make ends meet.
If you’re a small business owner, you might also want to get a life insurance policy that could help keep your business running if you died. If you have business partners, you can get a policy that pays out to the other partners if one of you dies. That money could be used to buy out the deceased owner’s share at a prearranged price, with the proceeds going to that business partner’s heirs.
But how much coverage is the right coverage? As an independent insurance broker, we can help you run the numbers and determine the amount of coverage and the individual life insurance policy that’s right for you. We’ll help you compare different quotes from different insurance companies, and weigh the pros and cons of each.
We can also help seniors find a life insurance policy that covers your final expenses so that your loved ones don’t have to come up with the money to pay for a funeral and related expenses.
To find life insurance coverage that’s right for you and your stage in life, click the links/logos for a quote. You can also call us at 410-420-2828 for an assessment today or use the contact form. One of our representatives will follow up with you shortly.
