September is Life Insurance Awareness Month.

As we transition from summer to autumn, it’s a great time to replace your smoke detector batteries and do a financial checkup on your life.

To live a financially sound life, one of the most common parts of your financial plan is that you have life insurance.

Life insurance will pay the beneficiaries named by a policyholder in the event of that policyholder’s untimely death. It’s a way for a family to replace lost wages when an income earner passes away and for the deceased to leave a Legacy.

In honor of September being Life Insurance Awareness Month; here are six things to consider when you are thinking about getting life insurance.

1. What kind of life insurance do I need?

Many gurus give a one size fits all answer to this question but in truth, this question can only be answered based on your goals and strategy after a consultation with a broker like NFT Insurance group to develop a personalized strategy.

2. How do I shop for it?

You can comparison shop for life insurance quotes at any of a number of sites but by shopping online; however, you may buy an insurance product that may not be suitable for your needs.

The best shopping decision would be to contact an independent brokerage, like NFT Insurance Group, and talk to an insurance consultant. They will shop for the best priced product and carrier which meets your needs. A broker, unlike an insurance agent, has contracts with many insurance carriers and will be able to give you a variety of options to best fit your situation and goals.

3. Can I afford it?

If you cannot afford not to have coverage, than YES you can afford coverage. (See question 6)

4. How much coverage should I buy?

When it comes to this question of how much you should buy, people can get crazy with all kinds of complicated formulas; however, it is best to get coverage to match your goals and legacy strategy.

5. Should I get it through work?

This is a popular option for a lot of people. But it’s often better to qualify on your own so you can buy a policy independent of your employer. Employer supplied coverage would be a bonus to your beneficiaries.

The reality is most of us don’t stay at the same place forever and you may not have a right to take that insurance with you and the price will most likely be higher because of age when you transition.

6. Do I really need it?

Does somebody depend on you? Do you have young kids or a spouse or significant other that depends on you financially? Then you need life insurance!

Do not forget about stay-at-home spouses or partners. Should a stay-at-home spouse pass away, the surviving parent would have to suddenly pay for childcare and everything else a stay-at-home parent does on a day-to-day basis. That’s why it’s essential to know your situation, put together a strategy and include the parent at home with coverage.

Don’t have any one who financially depends on you? That maybe the only time you don’t need a policy.

Procrastination can be a costly mistake.

For a review of your current life insurance policies, consultative strategy and goal setting; do not hesitate to contact NFT Insurance Group for a FREE no obligation consultation.

We can be reached through this Facebook page, our website or directly at….

Maria Jeancola

maria@nftinsurance.com

440-320-7320

or

Larry Lesiak

lwlesiak@nftinsurance.com

216-223-8610