Below are useful resources and Frequently Asked Questions about Life Insurance. There is good information here, but we’ve got a lot more knowledge than we can fit on this page. If we missed something, our friendly staff will always make time to answer your questions.
The most efficient way to make changes to your policy is to contact the insurance company directly. Most of these common changes can be made online if you registered your policy. Here is a link to our carriers and self-service options: http://www.christensengroup.com/self-service/
Term insurance is temporary and only provides pure death benefit protection for a specific period of time. Term is the most affordable and does not accumulate cash value. Permanent insurance is designed to provide lifetime protection. The initial premium for Permanent is higher than Term, but it has the potential to accumulate cash value that can be accessed to help with lifetime needs.
The amount of life insurance needed varies for everyone as it depends on their unique circumstance and financial goals. Immediate obligations and future income needs should be considered when determining how much life insurance coverage is enough. There are many calculators out there to help you figure out how much you may need to maintain your lifestyle as well as help provide financial security to those that depend on you. Life Happens, A Nonprofit Organization, has a simple yet effective calculator, which can be found here.
If someone will be adversely affected financially by your unexpected death then you need life insurance. Life insurance can provide financial protection for your beneficiaries, for both personal and business reasons.