Lesser-Known Information About Life Insurance 

Life insurance is a valuable product that many choose to purchase. If you’re looking for a life insurance policy, it’s wise to work with a qualified life insurance agent to ensure that you get suitable coverage for your needs. Keep in mind that some agents may not tell you everything you need to know about this policy – which is why we’re letting you in on these lesser-known facts about life insurance in Red Hook, NY.

  1. Not everyone needs insurance

It’s true that life insurance benefits almost everyone. But not everyone needs it. If you’re the primary breadwinner with a spouse and children who rely on your income, buying life coverage is important. However, if you have no dependents and are able to cover debts and expenses once you pass, you may have no need for coverage.

  1. Permanent coverage isn’t right for everyone

There are two types of life insurance policies – term and permanent. Term covers you for a certain amount of time, such as 10 or 20 years. Permanent coverage stays with you throughout your entire life and builds up a cash value which you can then borrow against. But because permanent cash-value policies are designed for extended periods, they may not be right for those who don’t have a need for long-term coverage.

  1. It is possible to buy too much coverage

Taking on too much life insurance coverage places an unnecessary strain on your wallet every month. Keep in mind that it’s a good idea to have enough coverage to pay off your mortgage, then think about your dependents. Everyone has different needs and financial requirements so be sure to do some calculations before you select coverage.

Need help selecting the right life insurance? We can help. The team at Kneller Agency is here to help with all of your life insurance needs. Visit us today in New York to get started.

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