Ready to Look for Life Insurance? What to Know Before You Start
If you make a list of chores you would avoid more than a trip to the dentist, shopping for life insurance would probably fall into the top five. No one wants to talk about this topic, which is completely understandable, but you need to know the types of life insurance and how to figure out the coverage that you need. Before you find a life insurance agent and hash out your options, there are a few things you can do to prepare yourself for the most productive appointment possible:
- Know your debts and assets. This helps give your agent a complete picture of your current financial state, as well as what your loved ones would face without you.
- Talk with your spouse or partner beforehand about your long-term goals and both of your earning potentials, as this affects how much coverage you will need. For example, an elderly couple in a paid-off home will need significantly less coverage than a young family with a stay-at-home parent.
- What are the future goals for your spouse and/or children? If those goals would be impacted or impossible without you, you need to factor them in to your financial decision-making.
- Prepare yourself mentally to talk to your agent. Death is an uncomfortable topic, and your agent will be asking you tough questions and presenting you with scenarios you may not want to think about. However, his or her job is to help you step back and see the issue as a whole. You want to have the right mindset so that your subconscious isn’t hampering your ability to make decisions objectively.
These are just a few tips to keep in mind as you begin your search for the right insurance for your family.
Specializing in Life Insurance, Annuities, LTC, Disability & Critical Illness Insurance
At Serra Benefits & Insurance Services, we can connect you with affordable life insurance quotes that match your needs and goals. To learn more, or to schedule a consultation, contact our team today at 760-439-9700