Advice for Buying Life Insurance for The First Time

1
Advice for Buying Life Insurance for The First
Time
2

• Designed to provide families and individuals with
  financial security in the event of the death of a
  spouse or parent, life insurance can help pay off
  mortgages, provide education for children, fund
  retirement plans and help in estate planning.
• Understanding why you might benefit from life
  insurance is the first step towards buying a
  policy, and it can help to put it in the
  following, simple terms
• If someone, or some others depend upon your
  income for support, then purchasing a life
  insurance policy is a sensible idea.

3

• That said, whether the above scenario applies to
  you currently or not, it may well do in the
  not-too-distant future, so you still might want
  to consider purchasing a smaller, beginners
  policy. It helps to remember that the younger you
  are, the cheaper the life insurance will be.
• What level of coverage do you need?
• Called a death benefit, the amount of money
  family members or heirs will receive in the event
  of your death, can be determined with the help of
  an online calculator, or for a quick and simple
  (but rough) calculation, you can simply take your
  annual salary and multiply it by eight.

4

• Online calculators will only ever give you a
  hypothetical answer though, so for a more
  accurate figure, youd be advised to consult with
  an insurance professional who can talk you
  through your financial situation in detail and
  help you arrive at a sum.
• While you wont be able to arrive at a definite
  figure until youve met with a professional
  insurance agent, its generally useful to have a
  basic understanding of how life insurance works
  before doing so, if only for your peace of mind.

5

• What policy should you choose?
• There are two main options for life insurance
  coverage, and these are called term life and
  permanent life. Term life is the more affordable
  option, but permanent life offers more
  comprehensive coverage that can add cash value
  be sure to explore all your options before
  choosing the policy you think will best suit your
  needs.
• Choose an insurance company that has a good
  reputation, and whom invest premiums wisely to
  pay its policyholders claims, and make sure to
  take your time over your selection.

6

• Buying life insurance for the first time may seem
  like a daunting prospect, and one that many
  prefer not to face, but the reality is that when
  others rely on you for financial support, and
  that support is one day taken away from them,
  many will struggle to cope.
• Helping to secure the future of your loved ones
  is always worthwhile, so if you havent yet
  invested in a life insurance policy, now might be
  a good time to meet with an insurance expert and
  talk about policy coverage.

7

• We Insure Miami was founded on the principle that
  every individual and business, big and small, has
  assets and valuables that need to be protected
  and insured against forces outside of our
  control. We offer Auto, business and life
  insurance in Miami FL. Our agents understand that
  you work hard every day to protect your car,
  home, business and family. WE are passionate
  about Insurance and passionate about serving you.
  If you are looking for auto, home, business
  insurance companies in Miami, contact us for a
  quote or a complimentary review of your insurance
  policies.