Three Key Questions when Buying Life Insurance
Buying life insurance is buying peace of mind for our family. It is to guarantee that if we miss their life projects they will not be cut off, that they will not lose their house, or their university studies, or be eaten up by debts due to non-payment. It is no less true that when we decide to have life insurance some questions arise:
- How long should I be covered?
The answer to this question depends on the personal situation and the life project that each one has. If a person thinks that due to her job or business she will achieve financial freedom in 15 years, she should protect her family until that purpose is achieved. If someone pretends to be a wage earner all his life, then he should think about insurance that guarantees financial income if he were to be absent.
- How much coverage is enough?
It depends on the objective of the coverage, the type of insurance we contract, term or permanent, and the coverage that we can financially assume. Experts recommend that the benefit be equal to 20 times the annual salary of the insured.
- How much coverage can I afford?
The life insurance market is very broad. There are many types of coverage and multiple insurers. To give you an idea, it is possible to secure a profit of $ 500,000, paying 80 cents a day. The age of the insured, his state of health, and the period of the contract will influence. The good news is that term coverage cannot change the monthly premium amount for the entire duration of the contract.
To answer these questions in more depth, and before deciding to buy life insurance, call Univista Insurance and they will explain in detail all the benefits that you could obtain.
If you’re considering cheap insurance, Univista Insurance has it.