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Step 1 - Calculate Your Coverage Needs
After using this life insurance calculator, make a note of your results and proceed to steps 2 & 3 below. If you get stuck, just call Melissa (844)514-LIFE
Step 2 - Plan Ahead
Figure how long you need a plan and your budget
The easiest way to do this is think about how long your family needs to be protected from financial hardship if you die. As time goes on, most people reduce their debt, send their kids into adulthood and will not need life insurance forever.
Although, things don’t always go as planned and everyone has a different situation. If you foresee your family carrying a mortgage later in life or have a special needs child, you should look into a longer policy option.
You can choose policy lengths in 1, 5, 10, 15, 20, 25 and 30 years as well as lifetime coverage.
Decide how much money you can spend every month. This is an important step. There is no sense in shopping for a policy you cannot afford!
Buying a life insurance plan should fit nicely into your budget. After all, you want to keep it in place for your loved ones. Plus, knowing this ahead of time makes narrowing down your option much easier.
You may find that you want to buy more(or less) coverage, add optional riders or purchase a policy for additional family members.
Policy prices vary based on each person’s age, health and lifestyle profile as well as their coverage and plan needs. They can range from as low as $12.00 a month to $250.00 or more.
Be prepared and go in knowing your the budget before you buy!
Step 3 - Shop Rates
Now that you know how much coverage you need, how long you need it and how much you can spend, it’s time to start comparing rates! Don’t worry about having the exact coverage amount or plan length.
There is really no perfect way to figure these out as you don’t know when or if you will die prematurely. The goal is to get close and make sure you are not buying too much or too little. You can always adjust your plan as your needs change.
If you are having trouble picking the amount of coverage and plan, Melissa can help!
Insure The Heroes Life Insurance Agency offers competitive plans with top-rated companies.
Top Rated Term Life Insurance Companies
Services and information provided are not provided by the U.S. Military or Veterans Affairs. This site provides life insurance information and sample quotes from Insure The Heroes, Inc. an independent life insurance brokerage. Request a quote for formal life insurance estimates.