It’s easy to put off life insurance for a long time. It requires foresight and the consideration of your mortality. However, it’s never too early—or too late— to begin putting money away for life insurance—especially if you’re young and healthy. Life insurance can be a bit confusing. Let our Santa Monica insurance center answer the primary questions about this topic!
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- What is the purpose of life insurance? Life insurance is money you leave behind when you pass away. You leave it to your loved ones, who can use it to cover your outstanding debts or other finances. It can be paid in a lump sum or an annuity, to be paid out over the life of the beneficiary.
- Why should I invest in life insurance when I’m younger? It may actually be better to start putting away money for life insurance when you’re young, healthy, and single. You have the opportunity to lock in lower rates for the foreseeable future, making it possible to cover yourself at a lower cost than it would if you were a little older. However, we encourage Santa Monica residents of all ages to seriously consider life insurance!
- How are plans calculated? We can help you put together a life insurance plan that works with your current budget as well as your future goals. You must factor in what you’ll be trying to cover with your life insurance. Some ideas include outstanding debts such as student loans, your family’s routine expenses, funeral costs, or the future care of an aging relative or dependent. Use these figures to work with our agents and come up with a payout plan as well as a budget for your life insurance policy.
We won’t sugarcoat it: life insurance is complicated. However, our experts have been in this business for decades and we’re happy to help walk you through the nuances and terminology. There’s no need to get overwhelmed! Simply visit Sully Insurance Center at one of our locations. We look forward to speaking with you!