Do you need a Life Insurance Policy Review?
Do You Need a Life Insurance Policy Review?
If something important has changed in your life, then the answer is yes. This is often the case when you have gotten married purchased a home, or had a child. You may want to consider changing your life insurance protection after buying or selling a company. Or if your health has improved or tax laws have changed, you may want to take another look at your life insurance.
Review Your Current Life Insurance Coverage
You may have purchased insurance to make sure your family is financially secure or to protect your income during retirement. You may have acquired coverage at work or to protect against business liabilities.
List Your Current Life Insurance Needs
You may need more life insurance because you have had another child, bought a more expensive home to maintain, or acquired more business debt. You may need less because your children are now working adults and your own savings has increased. You may want life insurance that will last past retirement to pay for final expenses.
Let’s Compare Your Current Needs and Coverage
If your circumstances have remained the same, interest rates may have impacted your policy performance and premiums. It’s a good idea to schedule a meeting to discuss your needs and coverage every 5 years. Call our Chantilly Allstate agency or our Manassas Allstate agency or email email@example.com to schedule your appointment.
Consider Several Life Insurance Options
You should learn more about the different types of protection:
- Term Insurance: This type of coverage gives you the option to choose coverage for a time period (e.g., 10 to 30 years). You can customize life insurance layers to meet the unique needs of your family with Allstate’s TrueFit. If you are under 45, you may be able to get basic coverage without a medical exam.
- Whole Life Insurance: Whole life insurance offers lifetime guaranteed death benefits, cash accumulation, potential for excess credits, and asset protection. If you are under 45, you may be able to get whole life insurance coverage between $10,000 to $50,000 without a medical exam.
- Universal Life Insurance: Universal is a type of permanent life insurance with flexible premiums and a flexible death benefit. As long as you pay required premiums, the coverage can be in place as long as you live. When you pay your premium, a portion of it helps build the policy’s cash value and a portion goes towards the death benefit. The cash value earns interest, which will fluctuate with the market.