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Many people are not very knowledgeable when it comes to life insurance. If you have lots of questions, you are not alone. In Astoria, OR, the knowledgeable agents at Linda Dugan Insurance are here to answer the questions that you may have and help you to come up with the right life insurance combination for you.
Whole life or term, what to choose?
Whole life insurance is insurance that lasts for your whole life. Once you buy it you can keep it at the same premium forever. It also earns dividends, so it is a way to accumulate some extra savings and you can borrow from the money you have. Term life insurance has a term. When the term is over, the life insurance is over, or at least it is over at the previous rate. All you get is the death benefit, nothing more.
When to purchase life insurance?
The obvious answer is before you need it. But, if you are young and healthy, the premium will be the lowest and that is a good time to invest in whole life insurance. When you have heavy obligations and the need to provide for dependents, that is the time to get term life in the amount you need.
Do I need to buy life insurance if I get some from work?
Do you know exactly how much you get from work and the type of insurance you have? Will you be able to bring it with you if you leave their employ? This is something important to consider. What if you get sick and can’t work or the business closes? It is always best to be in control of something as important as your life insurance.
Contact Linda Dugan Insurance in Astoria, OR when you have questions about life insurance.
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