How much life insurance is enough is something that only you can determine based on your personal life and finances. Having an independent insurance agent who will work with you to get you the right life insurance at a price that you can afford is a must. At Affinity Insurance Partners in Pittsburgh, PA, we believe in fostering a personal relationship with all of our clients. We need to know you to find the right products for you.
How old are you? That is the first determining factor when it comes to thinking about how much life insurance you need. The younger you are, the lower your risk of dying. You also have a lot fewer assets and less need for protection. While this is a general statement and you may be an exception, it is one of the things you need to consider.
Who counts on your income? Are you supporting anyone other than yourself? If you have a significant other or a child, your need for life insurance is significantly higher than if you are single with no dependents.
Who would be responsible for our final expenses if you should pass away? Are they in a position to pay for them if you don’t have life insurance to cover them? Do you have enough savings to cover any outstanding debt that you may have? If you don’t, then you need enough life insurance so that you don’t leave your loved ones holding the bag.
Life insurance is a safety net that provides for your loved ones and you need enough life insurance so that they are provided for as long as they have need of the help. Only you can determine what that figure is.
Contact Affinity Insurance Partners in Pittsburgh, PA when you are ready to sit down and discuss your life insurance needs.
If you’re like a lot of Pittsburgh, PA residents right now, you might be in the middle of a job change. At Affinity Insurance Partners, we want to make sure you have the right life insurance coverage for your needs, even if your situation is evolving. Here’s what you need to know.
Do You Need to Buy Life Insurance After Changing Jobs?
We can all agree that an occupation change is a big deal. But if you’ve only ever had life insurance paid for by your Pittsburgh, PA employer, you might not realize that that coverage ends on your last day of work.
As you transition to a new employer, the benefits might not be the same, or they could potentially not offer this type of coverage. Some even require you to be on the job for a set period of time before you’re eligible for life insurance.
This is why it is crucial to have a conversation with your trusted life insurance agency any time there’s a big change in your lifestyle. They will help you determine if you need to purchase a policy outside of work and its benefits.
Even Stay-at-Home Parents Need Life Insurance
It isn’t just the primary breadwinner who needs life insurance coverage. If you’ve recently changed occupations, the income level for your entire household has changed. This means that it is more important than ever for the stay-at-home parent or spouse to have coverage, as well. Your partner contributes quite a bit to your family and trying to replace their duties. At the same time, your work would certainly be difficult without a bit of extra financial assistance provided by a life insurance policy.
Ready to protect your family with adequate life insurance coverage? Please contact our team at Affinity Insurance Partners today to schedule an appointment.