At any stage of life a person can take life insurance coverage. Life insurance plays an important role in financial planning for an individual. Anyone can take the decision of getting insurance coverage to grow their wealth, build on their dreams and nurture the aspirations of the loved ones so that they have a better and bright future.
When it comes to purchasing life insurance, 36 percent families with children consider a term plan as their first choice. Out of those who are child-free, only 29 percent know the importance of life insurance and in the households with kids, only 25 percent have information of different plans available in the insurance market.
Life insurance is crucial at different stages of life and it is not necessary to only consider it when getting married or during childbirth. It offers the insured protection and peace of mind. Even at the age of 18 to 25 years, when one is living carefree, they can invest in an insurance plan as the earlier one gets a plan, the lower the premiums will be.
With everything going on today, it is extremely important we make sure our family is covered with life insurance. In such uncertain times, everyone already has so much to deal with, and the last thing any family needs is financial burden on top of emotional burden. Please call 310-430-3882 for a free consultation or visit innovativeinsuranceservice.com for a quote.
It is important to get a flexible term plan as it allows the increasing of coverage in the future. If someone is looking at leaving their family an assured monthly or annual income they should get a term plan with a monthly income option. This will meet the family’s financial needs by providing payouts at regular intervals.
People above 35 years of age can go for a market-linked insurance plan offering the dual benefit of life coverage as well as market returns. It provides a financial cushion for the family. In case you are more than 50 years of age and beyond then the term plan with decreasing coverage is best suited for you.