As a new parent, you take on many responsibilities but one you must not overlook is life insurance. The birth of a child means it is time for you to start investing in a life insurance policy so that little one is protected in the event of your unexpected, sudden passing. Take these 5 helpful tips into consideration to ensure that you’re prepared for the little bundle of joy’s arrival:
1) Determine whether or not a term life insurance policy will suffice or if you’ll need a whole life insurance policy. If you are a young adult just starting your family, a term life insurance policy is your best bet because you can choose affordable premiums that will still protect your loved ones.
2) Priorities your coverage options. Evaluate all the future costs you will be taking on with a new child: tuition, child car, mortgage, college, etc. and decide how you will choose coverage options based on these answers.
3) Purchasing life insurance when your young is important in getting the cheapest policy with the most benefits. Your likelihood of premature death is less when your 20 and more when your 30.
4) No matter who stays at home with the kids and who makes the money, it is important that both parents are insured.
5) If you have any questions, feel free to call one of the life insurance experts at Reta Insurance Agency.
Reta Insurance Agency has been providing Illinois residents with excellent insurance services for over 20 years. Contact us today and we can answer any and all of your questions regarding adopting a life insurance policy.