Life Insurance: Your Loved Ones' Lifeline

Protect Your Family 's Financial Future With This Policy Life insurance is not the most fun topic. After all, thinking about this type of coverage requires us to do some thinking about the world without us, a difficult topic for our egos to stomach. Surmount your pride and secure life insurance to protect your family from the hardship of life without you turning into a financial hardship, too. To help you understand this coverage, here is a quick guide.

• How Much Should I Get? The general rule of thumb for a life insurance policy payout is between seven and ten times your annual income. Bear in mind, though, that there are other factors you should consider. Factor in end of life costs, inflation, the possibility of raises in your future, and financial goals your family has when considering your policy. For example, if you are hoping to fund an Ivy League education for your children, you may want to take out a larger policy.
• What Kind Should I Get? You can either secure a permanent life insurance or term life insurance policy. A permanent policy will last until the end of your life and will build cash value, but a term policy will be more affordable and will expire after a certain date so it can protect you during your current season of life.
• When Should I Get It? Life insurance will be most affordable when you are young and healthy. Ultimately, if there are any people who rely on you for their financial future you should get a life insurance policy right away.

You do not deserve to be confused about the right policy for your family. Serving Hudson, Chatham, and all of New York, contact Lofgren Agency for all of your life insurance needs.