Month: December 2024

Your final expenses are just one area your life insurance policy may cover. If you want your loved ones to be financially secure in the event of your death, it’s important to review your life insurance policy and make adjustments as needed.

Reviewing Your Current Policy

Start by reviewing your current policy to determine the coverage amounts. Then, consider any outstanding bills, estate costs, burial plans, and other areas that your life insurance will need to cover.

Next, calculate how much insurance will be left over. Then, review some factors that may encourage you to increase the life insurance your policy provides.

Considering Your Family Composition

Consider your family composition and the likelihood of it changing in the future. For instance, if you currently have one or two young children, you may plan to have more.

Additionally, consider the likelihood of your children having offspring of their own. If you want to ensure that your extended family members are supported, obtaining more life insurance coverage may be a good idea.

Planning for Expected and Unexpected Expenses

Expected and unexpected expenses that your family members may face could be financially straining. Attending college, taking a new job, or enduring a medical emergency can be expensive. There are a wide range of expenses that your loved ones may face.

Consider the upkeep of the home where your family members will be residing. Calculate how much money will be needed for your loved ones to handle their expenses.

Contact an Insurance Agent Serving Albany, OR

Contact one of our agents if you would like to delve further into life insurance coverage and policy upgrades. An agent from Allen & Associates Insurance Inc. will be happy to assist you.