No one likes to think about life insurance. It's a morbid topic that we would rather not need to deal with. Yet, it's so important to our loved ones and our families that we do. Life insurance provides a financial safety net for families. It sounds simple, but decisions over whether and how much to buy can get complicated - and the mistakes can be costly. To avoid common mistakes made to life insurance in Antioch, CA, read on.
Buying too much or not enough
Some people buy life insurance just to say they have it - but that means minimal coverage for the cheapest price possible. Depending on your needs, it may not be enough to adequately help your family in the event of your untimely death. Some people purchase too much insurance, which means they're paying out for unnecessary coverage. To avoid either end of the spectrum, always work with a trusted life insurance advisor.
Putting off the purchase
It's easy to forget about purchasing life insurance when doing so requires you to think about how your death would affect others. However, if you have children, a spouse, or financial commitments, overlooking life insurance is a gamble. If you're worried about the cost or finding the right coverage, be sure to talk through your concerns with an agent. They will be able to help you secure reliable and affordable cover.
Relying on free insurance at work
Life insurance benefits through work probably aren't enough for those who have a family depending on their income. That coverage tends to be one to two times your annual salary, which isn't enough to sustain a family after the loss of a breadwinner. Additionally, if you choose to leave the company, the coverage will usually end. Buy your own policy if you need life insurance and consider the free benefits from work a bonus.
Life insurance is there for your family when they need it the most. Avoid making these blunders to secure the right cover. Have more questions about life insurance? Contact Jack Stone Insurance Agency who can help you find the right policy for your needs and wants.
