Life insurance on your to-do list? Check it off today.
We earn a commission when you click links on our site. Compensation and in-depth research determine where and how companies appear on the page. Learn more about how we make money.
If 2020 has taught us anything, it’s that life is unpredictable. You should make plans now to leave your family $1 million in case something happens.
Simple wisdom is making a comeback.
As health and financial concerns collide, life insurance is making a comeback. Purchasing life insurance is too often viewed as a task vs. a vital safety net or even a great investment opportunity.
While many of us have new appreciation for rainy day funds, few have the resources to consistently maintain one. This is where life insurance plays a vital role: establishing a financial safety net for your family should the unthinkable happen in the years to come.
Your workplace coverage is not enough
Workplace life insurance is a great perk. If it’s offered, you should take advantage! Just be sure that it’s sufficient. If you have a family, experts recommend that your coverage is 8-10x your annual salary. So if you make $50k a year, that means $400-$500k in coverage. Many workplace life insurance policies have coverage limits in the $50-$100k range. Private life insurance can help to fill in the gap.
Avoid this one big life-insurance mistake.
Whole life insurance is a type of insurance policy that combines insurance and a savings account. The concept can sound attractive until you crunch the numbers. In most cases you would be far better buying Term Life Insurance, and investing the price difference.
Experts agree that a Term Life policy is the way to go. Term Life Insurance is held for a specific period of time, often the years before children achieve independence, or until a mortgage is paid off. Because the term is limited, premiums are affordable. A $500,000 term life insurance policy can cost as little as $20 per month.[1]
The hardest part? Knowing where to look.
Yes, the underwriter matters.
Life insurance can feel like a commodity. The numbers and charts can seem identical at first glance. But don’t be fooled: there is a difference between life insurance providers. Some of the distinctions are understood only when claims are made. Others, in the application process.
Our favorite entrant to the life insurance market, Haven Life Insurance Agency has taken much of the guesswork (and legwork) out of insurance shopping. Their simple online application requires little more than your birthday, gender, height, weight, and location to get a quote. So what does that leave out? Salespeople and medical exams[2]. Their swift process is a game-changer for the unchecked to-do lists out there.
And while the Haven Life is new, the infrastructure behind the sciences is anything but. Haven Lifes policies are backed by MassMutual, a firm with more than 100 years of experience and an A++ financial strength rating from AM Best[3].
Get an estimate today. Rest easy tonight.
2020 has been a challenging year for all of us. But if there’s a silver lining in the fear and uncertainty, perhaps it’s this: we all have an opportunity to be better equipped for whatever tomorrow brings.
Don’t wait another day to establish a safety net for your family. Apply for a quality term life insurance policy through Haven Life in just a few clicks.
