5 Tips To Know When Buying Life Insurance

1. Understand who, or what, you want to protect

While it’s true most people think of protecting their significant other or children, there are other benefits to life insurance as well. For example, student loan cosigners should consider life insurance to guarantee their loans, while stay-at-home parents may also have a need to cover healthcare costs and other expenses.

2. Get the option you can afford

There are a lot of options and coverage levels out there. Make sure you get what you really need. It may be a lot more affordable than you think!

3. Purchase from a financially-sound company

If someone you love needs to claim the life insurance policy, it’s paramount they work with a trustworthy firm. Look for long-established companies devoted to customer service. Your Ansay & Associates advisor can help you with this.

4. Consider your current AND future needs

While many people will just look at their current lifestyle, be aware that your needs could change depending on major life events, such as children, owning a business, or buying a house.

5. Determine your beneficiaries

The beneficiary is the person you name in your policy to receive funds in the event of your passing. In addition to a person, a beneficiary may also be a business, charity, or trust. It’s vital to think through who, or what, you want your proceeds to go towards.