Colli Real Estate

Could you explain about life insurance, I am a bit clueless?

I receive some life insurance from my employer and so does my husband but that is not near half of what we would need to cover our needs if any of us died. We have small children, a mortgage and debts (cars, credit cards, etc). I have received offers through the mail to get life insurance, but many are for no more than 50K or 100K that’s just not enough. I also get some offers through the AFT (teachers). What should I know about life insurance. What are the terms used and what do they mean. Where could I read more about this to help me make decisions such as where to buy, what kind, and how much?

contact any insurance company and they would be happy to answer. I will leave for you my suggestion. Its a DIMES worth of insurance
D Death enough to cover funeral expenses usually 10-15,000
I Income replacement Your income times 3-10 years You decide
M Mortgage (Enough to cover Mortgage) I usually don’t recommend paying it off
E Expenses other debts, car loans credit cards student loans
S Savings 3-6 months of savings, Money to mourn or don’t have to worry about work right away.

Add them up and subtract what you have in place
Insurance rates are banded so you find discounted rates as cross over 100,000- 250,000- 500,000- 750,000.
So choose appropriately.
If you are young I would take out a 30 year term. Also but money into another retirement vehicle so if you out life the policy you have final expense money available. If you purchase through work you generally end up with Group term that changes rates annually. I hope this helps.

Great Financing Makes this Ultra Affordable!

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