Life Insurance Loopholes to Avoid

At Allen & Associates Insurance Inc., we know choosing an insurance policy is tricky. Thankfully, we can help Albany, OR residents find an option that makes sense for them. We can help you by steering you away from some common mistakes and ensuring you don’t fall victim to them.

Mistake One: Buying Cheap 

You might think you’ll save yourself money by buying the cheapest policy. However, these typically don’t provide the same kind of payout and may not be worth your time or consideration. Don’t do your family wrong: buy a policy that fully protects them and keeps them safe after you pass.

Mistake Two: Waiting Too Long 

Though you might think it’s best to wait until you’re a little older to buy life insurance, the opposite is true. It’s honestly best to buy it while you’re young. You’ll not only get better rates but can protect your family from the potential tragedy of losing you unexpectedly young. It’s scary, but it happens.

Mistake Three: Forgetting Your Premiums

It’s easy to forget about your life insurance premiums because it’s not a policy you typically think about. However, it’s just like any other insurance and can lapse if it’s not paid regularly. Set up automatic payments to ensure that you get the best results here. 

Mistake Four: Not Choosing the Right Term 

Do you want a policy that will last your whole life? Or one that covers only 30-40 years? It’s important to choose the term that makes sense for you. If you’re a bit older, term-life insurance of a more limited number of years is probably a great option. Younger people may want whole-life protection.

Take Care of Your Family 

If you’re unsure what kind of life insurance you need and want help finding some, contact us at Allen & Associates Insurance Inc. to learn more. We can help Albany, OR, residents find the policies that make the most sense for their needs and ensure everyone gets the support they deserve.