Do I Have the Right Protection with Life Insurance Coverage? 

Your life insurance needs depend on several key factors unique to your situation. Consider your current financial obligations, including mortgage, living expenses, education expenses and debts. Think about your family’s lifestyle and future needs, such as college funding or retirement planning.

For many families, the cost of maintaining their current standard of living plays a significant role in determining coverage amounts.

Types of Coverage to Consider

Term life insurance offers coverage for a specific period, often 10, 20 or 30 years. This option might work well if you want coverage during your peak earning years or until specific obligations, like a mortgage or children’s education, are fulfilled.

Permanent life insurance, including whole life and universal life policies, provides lifetime coverage and can build cash value over time. While typically more expensive than term insurance, these policies offer additional financial planning benefits beyond the death benefit.

Your agent can help assess your situation to determine which policy type may best meet your needs.

Working with a Professional

Life insurance needs often change as your life circumstances evolve. Regular reviews of your coverage with an insurance professional can help ensure your policy aligns with your goals. Consider reviewing your coverage when experiencing significant life events such as:

• Marriage or divorce

• Birth or adoption of children

• Purchase of a new home

• Career changes

• Retirement planning

• Starting a business

Learn More

Contact Price Insurance in Lake Forest, Illinois, to discuss your life insurance options. Our team can help you understand your coverage choices and compare quotes from top life insurance companies.

This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.