Life insurance is unfortunately a security that many don’t purchase, or wait too long to purchase. But as you can imagine, having this sort of security in place can be just as important as purchasing health insurance. Financially protecting your assets, salary and wealth is such an important piece of your financial planning, and finding the most inclusive life insurance policy is how to get there. As your leading local life insurance provider in Lafayette, Franklin, and Abbeville, LA, TSL has the expert background to avoid the fluff and find a comprehensive policy that fits your lifestyle.
What are the most common reasons Americans don’t purchase life insurance?
There are quite a few reasons why people choose not to purchase life insurance, but the top three are:
- Many believe they can’t afford it.
- They think they have enough assets for their beneficiaries.
- They are healthy, and therefore, will not pass anytime soon.
Step One: Commit to Purchasing an Insurance Policy
No matter your age or health, this is the first place you need to start. Passing away may seem like a far-off event, but just as you probably know someone who has died prematurely, you can never know if you will be in that exact same situation. You may question if you should purchase insurance if you are single and no one depends on your income. In theory, you probably do not need insurance in that scenario, unless your family will need help with funeral costs.
Step Two: Research insurance plans and financial firms
Once you have decided you will need to purchase a plan, do your research. There are different plans out there from term insurance to whole life, plans that require a health assessment, and others that don’t. There are some plans that are even interest-bearing. Due to the variety of plans, there are various schools of thought on which plan you should pick. For example, if you would like a payout no matter when you pass away, even if you are in your elder years, you may choose whole life insurance. But if you just want to cover yourself until retirement age, you may choose a term policy. The benefit of choosing a term policy is going to be a cheaper premium. You will need to take into account all these different benefits before you choose your plan.
Step Three: Speak with a Qualified Agent
There are so many different companies and agents to speak with when finding a comprehensive life insurance policy. It can start to feel like an intimidating process. Finding a local company is always a smart place to start, as typically you will feel more catered to as a customer. Developing a personal relationship with your life insurance agent is beneficial, especially since your circumstances may change as you get older. The ability to meet in person is also an added benefit. If you are unsure on which plan you should choose, do not worry. An experienced agent will be able to review with you the pros and cons of each policy, and in what situation it would make sense to choose that specific plan. Come prepared to the meeting with a list of assets and salary estimations. This will help determine how much your insurance plan will be for, and will also help your agent give you a reliable quote.
Financially Securing Your Future at TSL
With a myriad of options at your fingertips, choosing who to best protect your finances and assets can be a challenge. But when you choose a local insurance company, such as TSL Insurance in Lafayette, Franklin, and Abbeville, LA, you will be treated with the local hospitality you come to expect in Acadiana. One of our agents will take a deep dive on your unique circumstances and assets, to provide a customized plan that will protect all your belongings. Contact us today to begin the conversation of what plan makes the most sense for your personal situation.