How to Choose Life Insurance: Insuring the Uninsurable
Life insurance is something that many people never give a second thought to, until the unthinkable happens. The sudden loss of a loved one can be devastating and life insurance can help provide financial stability for those who are left behind. Insurance for dummies is basic info for you to be well prepared.
One of the most important things you can do is to create a plan for your family. Make sure that everyone knows where mom or dad’s life insurance documents are, and who will contact GEICO with any changes (car accident, new job). Be prepared to pay attention to details like whether they need immediate cash in an emergency situation – either their own policy pays out as soon as there’s proof of death, or if it doesn’t payout right away until all paperwork has been finalized.
The first thing you should do when buying a life insurance policy is meet with one of our qualified agents to go over what makes sense for your unique needs and goals. You may not have considered all the coverage options available; be sure to get some information about them..
If you have children, be aware that many policies offer term coverage on newborns from the date of birth; some even include accidental injury protection up to age 18! Term life insurance protects against financial difficulties related only to how long someone lives after getting their insurance signed.
Life insurance is something that many people don’t think about until they need it, or someone needs it to protect their family. It’s important to know what your options are and have an understanding of how it works.