When talking about the real cost of life insurance, money can play a huge factor in someone’s decision to get life insurance coverage.
This is actually very interesting when you think about it because the main reason we get life insurance is so that our loved ones aren't left with their own financial burden.
Plus, we guarantee it costs less than you think.
Make sure to talk to a specialist to determine exactly where you have gaps in your coverage, and which type of insurance will fit your specific needs the best.
For example, you may want to start with Disability coverage so that if you were to get hurt at work and your income suddenly disappeared due to that, you would still have a way to pay your bills.
Or, you could start with Critical Illness coverage that would provide a lump sum of money should you get unexpectedly sick and need to take time off work for treatment, medical expenses or doctor appointments and travel.
This could also allow your spouse or loved one to accompany you on overnight trips or while going through treatment without any financial strain.
Then there is of course, Life Insurance which will provide a lump sum amount of your choosing to the ones you leave behind.
Of course, you can have a combination of these as well.
What affects life insurance rates the most? You guessed it - age and health.
The application process begins with a questionnaire, similar to what you would see when you visit a new doctor or health care provider.
Do you have any existing conditions? Is there a history of any conditions in your family? What is your weight and height? Are you a smoker?
This way they will tell us what your chances are of qualifying which often results in some much needed reassurance!
Do not stress about qualifying for life insurance. There is no test that will say you passed or you failed! They simply need to know where you are at in your current stage of life and health in order to determine proper coverage and rates
If for some reason you are denied coverage, let’s talk about it! There are often things we can figure out together to help you reapply. Most often, this is due to lifestyle changes such as quitting smoking or seeing a doctor about your blood pressure (which you should probably do anyway).
Okay, here it is… the real cost of life insurance.
These are REAL LIFE examples of what our clients are paying right now for life insurance coverage on a 20-year term (read more about term vs permanent here).
Consider how much you might spend each month at the local coffee shop, on one order from Skip the Dishes, on a single case of beer, that new pair of shoes, or an extra toy for your pet.
Have more questions? Give us a call at 403.526.1345 or book an appointment here.