When it comes to life insurance in Myerstown, Reading, Sinking Spring, Wernersville, Wyomissing, PA, and the surrounding areas, many people aren’t sure what kind of life insurance they might need, if they might need it, along with how much they may need. And with these questions hanging over them, many opt to do nothing about it. At Stubbs Insurance Agency we can help provide answers to your common questions, and we can also shop the market to provide several quotes to compare to see which policy will fit your needs. Everyone’s situation is different, and while one person may decide that they want only a couple hundred thousand in life insurance coverage, the next person may want 10 times that amount. We can help you narrow down your needs so that you are getting the right level of coverage. Contact us today to review your life insurance needs.
Common Questions with Life Insurance
One of the most asked questions is how much life insurance should someone have. The general advice is to have it be between 10 and 15 times your income, but that’s just a starting point. Other factors such as children, income, savings, and more will play into this figure. Another common question is related to the cost of the policy, and life insurance is a good bargain for what it provides; the earlier that you obtain life insurance, the lower the cost is as well.
Why would a young person think about life insurance? Not only is it easier to qualify for the life insurance policy (as some may have a medical exam associated with them), but in the future if you need to increase your life insurance, it will be easier to obtain this increase as you are a known quantity. Many think that their life insurance policy at work is enough, but what if you leave that job? Your life insurance doesn’t travel with you to a new job unless you get your own policy.
Should You Get Term or Whole Life Insurance
Each of these options provide their own pros and cons. Term insurance is less expensive than whole life, however it only provides the stated amount. Whole life provides an investment opportunity, but ends up costing more than term life insurance. This is why it really helps to work with an independent insurance agent to understand how each kind of life insurance policy works so that you can determine which option is the right fit for your situation.
Life insurance isn’t really for the person who has it, but instead it is for those who are left behind in Myerstown, Reading, Sinking Spring, Wernersville, Wyomissing, PA, and the surrounding areas. Family will have enough to deal with, and life insurance is a great way to provide for the financial aspects such as lost income, funeral costs, and more. Stubbs Insurance Agency is ready to help you find the right life insurance so that your family is protected should the worst happen. Contact us today to learn more.