Call Now !

Parents Have About Life InsuranceMany expecting parents are racking their brains trying to prepare for the future. Among the tough questions they need to answer are questions regarding life insurance. If something were to happen to either parent, would be newborn be okay? Considering life insurance is a smart move.

To help them make the right decision about life insurance, we have answers to some of the questions expecting parents have.

1. What type of life insurance plan is best for a new parent?

You have two primary options when it comes to life insurance: term or permanent. Before determining what type you need, you need to understand how much benefit your family may need.

The advantage of term life insurance is that it typically costs less upfront. It’s affordable for young families. Then, there is permanent life insurance, which offers lifelong coverage and cash accumulation over time.

2. My work offers life insurance; is that good enough?

Group insurance from a workplace can be quite beneficial to new parents. However, the policy may be limited. For one, the coverage is typically a lump sum. How long would a lump sum of cash last your family? For most, not very long.

Then, of course, there’s the situation in which you leave your workplace. You lose that life insurance policy and are left with nothing. Your family will then still be at risk.

3. What is the cost of life insurance?

The amount you pay for a life insurance policy is based on age and health. A healthy, middle-age individual could expect to pay under $15 a month for almost $300,000 in life insurance coverage. You’ll need to speak with an insurance agent for more concrete numbers, though.

For a life insurance policy that benefits your family, call Health Reform Team. You can speak with an insurance specialist by calling 833-839-2773 today!

Get a Quote