When Do You Need To Buy Life Insurance?

Is life insurance right for your family? You may think if you’re under 30, it’s too early to consider. That may not necessarily be the case. Now could be a great time to buy, while you’re young.

Learn more on Money Under 30:

Life insurance isn’t usually on a 20-something’s list of financial priorities.

And that’s okay. Maybe.

If you’re happily single and childless, you can probably skip this post (for now). But if marriage or a family is on the horizon, read on.

Although age may play a role in how much life insurance you need, the decision to buy life insurance has nothing to do with age. So when do you need life insurance? Here’s the simple rule:

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Life Insurance Explained in (Exactly) 250 Words

Short and sweet: here’s a quick and dirty guide to life insurance. If your family is still not insured, this summary can help you understand what life insurance can provide for your family. There are many different types of life insurance and some may be better suited for your budget and family needs than others.

There are many misconceptions out there about life insurance. Get started on better understanding how life insurance can help your family on NerdWallet:

What life insurance is: a policy that pays out if you die. When you need it: if your death would cause financial hardship to someone, like a spouse. How it’s priced: based on life expectancy. Any factor reducing life expectancy, like heart disease, will likely mean a higher price. Comparing prices: Even if you have…

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Your Driving Record: Insurance Companies’ Crystal Ball

Your driving record can help insurers price out your insurance – and not just your auto insurance. Throughout the insurance industry, it pays to have a good driving record. Life insurance and home insurance pricing can be affected by your driving records, depending on where you live and which insurer you choose.

Learn more about the studies behind using your driving record to price insurance on SFGate:

Allstate, meanwhile, is using driving records to help price home insurance . The company began doing so in 2011 in Oklahoma with the introduction of …

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The Hidden Factors That Determine Your Life Insurance Rate

Is 2017 the year you’re finally getting around to getting life insurance to help protect your family? If so, this is great read from NerdWallet on how life insurance rates are calculated.

There are many factors that go into the pricing of life insurance. Not all policies require a physical, however. Read more on NerdWallet to learn what aspects of your lifestyle could affect your rates:

By Jason Fisher Learn more about Jason on NerdWallet’s Ask an Advisor As a life insurance agent, my job is to get my clients the coverage they need at the most affordable price possible. This is more complicated than you might expect. I tell clients their age, gender and desired amount of coverage are the factors…

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10 Smart Insurance Resolutions for 2017

Great tips from the folks at NerdWallet to help you ensure that your insurance is in top shape for the new year ahead. These practical tips can help you make the most of your existing insurance policies as well as help you reduce your risk throughout the year. Less risk could mean fewer claims filed!

Read more on NerdWallet:

Insurance is a financial safety net for when life just doesn’t go your way, but that doesn’t mean you should ignore it when things are going well. Here are 10 things you can do in 2017 to strengthen your net and avoid common insurance claims. 1. Make a home inventory After a fire or natural…

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5 Questions to Know What Insurance Coverage You Need in Retirement

If someone in your family is nearing retirement, you may be wondering how your insurance needs will change. Getting your insurance in order at the start will help protect your family throughout retirement. 

Learn more about insurance in retirement on The Street:

It’s a myth that auto insurance costs rise after retirement. Without exception, younger drivers pay more for car insurance than any other demographic.

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15 Financial Must-Dos to Prepare for a New Baby

If your family is growing there are many things you’ll want to do to prepare for a new baby. Several of those items are related to your finances, no doubt. This helpful list will give you an overview of what you can do to get ready for baby’s arrival.

Several of the items relate to your insurance policies. You’ll want to give your agent a call to ensure that you’ll have the right coverage in place once baby comes.

Read more on NerdWallet:

Preparing for parenthood isn’t just tiny clothes and heartwarming ultrasound photos; it involves a lot of financial preparation. This guide will lay out the most important financial tasks on your plate from pregnancy to baby’s first years, including: Estimating your medical costs Planning leave from your job Budgeting for the new arrival Some parenting preparations…

The article 15 Financial Must-Dos to Prepare for a New Baby originally appeared on NerdWallet.

Read the source article at Compare Best Credit Card Offers

A New Parent’s Guide to Life Insurance

Is your family growing? If so, congratulations! There is so much to do to prepare for baby, from getting all the cute tiny clothes to making sure your family is financially ready for another member. 

Life insurance can be an important part of your family’s financial plan. Life insurance may seem cost-prohibitive or confusing, but it can be more affordable than you may have thought and often the benefits of a policy are attractive for young families. 

Learn more about getting started with life insurance for your family on NerdWallet:

The importance of having life insurance grows significantly when you start a family. And tackling life insurance for your family doesn’t have to be difficult. The short learning curve involved is made worthwhile by knowing those closest to you are protected in the event of tragedy. Here, the Nerds talk about: The different types of…

The article A New Parent’s Guide to Life Insurance originally appeared on NerdWallet.

Read the source article at Compare Best Credit Card Offers

Is Your Workplace Life Insurance Enough?

If you have a family, it is very important to evaluate your life insurance coverage. Your employer may offer life insurance to employees for free, but is this free coverage enough for your family’s needs?

Having adequate life insurance is important to maintaining your family’s standard of living should something happen. Your coverage through your employer may not be enough for your family, and it is dependent on your employment status with your company – what if you got a new job? Read on in Time for some important considerations when it comes to your workplace life insurance and your coverage needs:

As benefits season kicks off, you may be focused on the changes to your health plan. But be sure to pay careful attention to your life insurance options when you fill out your annual enrollment forms.

That is because the typical U.S. company usually only offers one- to three-times salary as a life insurance benefit at no cost to workers, and it ends when you leave the job.

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5 Life Insurance Questions You Were Too Embarrassed to Ask

Here’s a good article for families considering life insurance. Read more on Time:

Applying for life insurance means answering some pretty personal questions. For example: How much do you weigh? (We’re talking the actual number, not the aspirational estimate on your driver’s license.) Do you smoke marijuana? Whom do you want to get the life insurance money when you die? Wait — not your spouse?

Don’t let any of that stop you from getting a life insurance policy. Here are the answers to five questions you might be embarrassed to ask your insurance agent.

Probably not.

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