Life Insurance in Beaufort, NC, Morehead City, NC & Surrounding Areas
If you provide financial security for another person, you may want to consider obtaining a life insurance policy. Life insurance can help protect your loved ones financially when you pass away.
How Much Life Insurance Should You Have?
When deciding how much life insurance coverage is right for you, consider the following:
- Financial obligations (e.g., mortgage balances and other debts)
- Final expenses (e.g., funeral and burial costs)
- Dependents (e.g., childcare and education costs)
Discussing your situation with a qualified insurance agent who can ensure you have the right amount of coverage is essential.
How Many Life Insurance Policies Can You Have?
It is possible to have more than one life insurance policy. There are reasons why you may wish to consider having multiple policies, such as supplementing workplace-provided coverage. However, a variety of complexities come with such a decision, including potentially unconsidered policy limitations. Therefore, you must discuss your unique circumstances with a licensed agent before pursuing multiple life insurance policies.
How Far Back Do Life Insurance Companies Look?
Life insurance companies must understand your unique health situation before determining coverage rates and other policy details. They acquire this information from several sources accessed with your consent, such as your life insurance application and previous medical records. Life insurance companies sometimes check up to 10 years of an applicant’s medical records. They may also examine your family’s medical history, including your parents and siblings.
How Much Life Insurance Do I Need at 60?
In your 60s, you should consider your life insurance needs, which may have changed from when you first bought your policy. Consider whether you care for more dependents or have additional financial obligations, such as a second mortgage. Depending on your circumstances, you may want to increase your coverage limits or change your type of life insurance to access the policy’s cash value.
If you are considering life insurance for the first time at 60, you may have difficulty finding an affordable policy because life insurance quotes increase as you age.
How Do I Get Life Insurance?
Contact Willis Insurance to learn more about the benefits of life insurance and receive personalized policy recommendations.