After deciding to purchase life insurance, you have to begin the process of searching for the policy that is best for your family. To ensure you make a sound decision, our team at Castillo & Associates Insurance suggests you have enough information. The following three questions will help you streamline the process of choosing a policy that is right for you.
How Much Life Insurance Do You Need?
Life insurance is a means to help you meet your financial objectives. Life insurance is an addition to your existing assets. Based on an assessment of your existing finances and the money you need to support your family you can determine how much life insurance you need. Of course, you may not be able to determine this alone. We encourage you to speak with one of our agents to determine the best course of options.
Are There Living Benefits to the Life Insurance Policy?
Your life insurance policy is designed to benefit the living. After your death, your beneficiaries benefit from the policy. However, many insurance companies offer living benefits, including the ability to borrow from the policy based on the cash value. Another living benefit is the accelerated death benefit (ADB). If your policy includes an ADB, then you may be able to gain access to the proceeds of your policy in the event of a chronic illness. This benefit helps you cover the cost of medical bills, which could ultimately increase your quality of life during your illness.
How Does Your Health Affect Your Policy?
Many people suffer from disabilities. If you don’t currently have a disability, you may develop one. In an effort to minimize risks, it’s important to know how changes in your health affect your life insurance policy. Most policies give you the option to include a disability rider. You should speak to one of our agents the effects of becoming disabled and the disability rider to ensure you have thoroughly researched every aspect of your policy.
In Tucson and the surrounding areas, you can start your search for life insurance by visiting our website. We offer many options that will help you create a custom insurance policy for you and your family.