3 Questions You Need to Ask Yourself Before Purchasing Life Insurance

If you are shopping for life insurance in Lakewood, CO, you may be overwhelmed. It seems like a complex process but it does not have to be. Your decision to invest in life insurance is a great one because it protects your family. You must, therefore, choose the right type of insurance from the right insurance provider. Contact a reputable insurance agency such as Colling Insurance Services, Inc. The agents will explain to you the different types of insurance and their extent of coverage. Understand how each insurance policy works before making a decision.

Important Questions When Buying Life Insurance

How much life insurance do I need?

Different people need different amounts of life insurance. Before buying life insurance, consider your financial responsibilities including mortgage payments and debt. If your family may have many needs in the future such as the costs of education, you need more life insurance. People who do not have a lot of debt or future family responsibilities may not need to buy much of it. What works well for one person may be insufficient for another.

Who are my beneficiaries?

Your life insurance policy goes to your beneficiaries after you die. You need to be careful when making that decision. Take time to think about it. Your beneficiaries could include your spouse, parents, kids, or siblings. However, you do not need to choose a person. You could choose an organization or a charity.

What policy is appropriate for my needs?

The basic life insurance policies are term life insurance and permanent life insurance. Term life insurance is for a specified length of time while permanent life insurance is a lifelong insurance. The type of insurance you choose depends on your needs.

Contact Colling Insurance Services, Inc. today for your life insurance needs in Lakewood, CO.