Life Insurance Can Protect Your Family and Finances - Keating Agency Insurance

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life insuranceMore than three weeks into the new year, many resolutions have fallen by the wayside.

Maybe it was too cold to go to the gym.  Maybe that cookie really made a compelling argument when it said, “Eat me!”

However, it’s not too late to get back on track.

Financial improvement resolutions and those to protect your family with Life Insurance can still be fulfilled.

Finding the Right Life Insurance For Your Needs

The Detroit News reports that a major problem people have when buying Life Insurance is either buying too much or not enough.  Individuals without dependents may not need much coverage.  Some may not even need a policy at all, especially if the person has no debt.

Parents need more coverage.  It’s recommended that primary or sole income earners have a policy equal to at least seven times the annual salary, as well as enough money for the mortgage and a college fund.  Stay-at-home parents need coverage that will pay the cost of childcare for the surviving parent.

Once you determine how much coverage you and your family need, what type of policy do you get?

life insuranceForbes says the type of policy depends on what you want to accomplish, what you are willing to pay, and if the time you need coverage is limited.

Term Life is one of the most common policies.  It offers coverage for a relatively low cost for a limited amount of time.  The drawback is that once the term ends, so does the coverage.

Of course, health care improvements and healthier lifestyles lead to longer life expectancy.  In response to this, insurers now offer longer-term policies.  Because we work with more than two dozen companies, the Keating Agency is able to offer policies for terms as long at 35 and 40 years.

Those who can afford higher premiums and seek a policy to grow wealth may consider a permanent life insurance policy.  These policies don’t expire.  They can serve as an investment vehicle.  They also may allow you to access some of the cash value.

In the 50 years since our founding, the Keating Agency has helped many families and individuals find the right policies are the right prices.  We are happy to sit down with you to discuss your situation and your goals.  We’re an independent agency and we look out for your best interests.  Give us a call.