Category: Life Insurance

What Affects YOUR Life Insurance Premiums

Posted on by butlervetinsurance

Life Insurance in Murrieta

What affects the price of your life insurance premiums? Once you think about it, it will make a great deal of sense to you.

  • Your age. Of course the younger you are, statistics will say the longer you have to live. That translates into lower rates when you are younger. It isn’t quite that simple however.
  • Your health. If you have a disease like cancer, high blood pressure, diabetes or other long term affliction, it not only may affect your rates, it may affect your ability to even get life insurance. That is why it is so important to get life insurance when you are young and healthy.
  • Your job. If you are a construction worker or policeman you may have higher premiums than an office worker or sales manager.
  • Your hobbies. If you participate in skydiving or skiing you may experience higher premiums than those with less dangerous hobbies.
  • Tobacco use. Yes, this will adversely affect your premiums.

Insurance companies use a more complicated set of rules to determine rates and what leads to increased premiums than you may realize. They are not unreasonable however. If you would like, you can get a free instant life insurance quote from the Stromsoe Insurance Agency.

Ask These Important Questions Before Purchasing Life Insurance

Posted on by butlervetinsurance

You’re off to buy life insurance, and the number of options available leaves you amazed. Should you go with term life or whole life? What type of term period is best for your situation? Asking questions can help narrow down your choices and the reasons why you need life insurance. Here are 3 questions you want to ask yourself to gain a clearer picture about the life insurance you need for your situation.

1: Why do you want life insurance? Some people purchase life insurance so that their young children can get the childcare they need from the benefits they will receive after the parent’s death. Other people purchase life insurance to handle the funeral costs and to leave supplemental retirement funds to a surviving spouse. Figure out why you want a policy and be prepared to have those reasons change as you get older.

2: What is your budget? Once you understand what type of life insurance you need, you can get the policy that works with your budget. Never try to get one that is more than your budgetary needs. You always have the option of getting term life insurance now and changing it to a permanent policy later if your financial situation changes.

3: How much coverage do you need and what are your financial priorities for your love ones? Before you purchase life insurance, you need to figure out what your needs will be that the life insurance will pay for. Asking a financial advisor can help you identify the type of coverage that fits into your particular lifestyle. In addition, you can also define the financial priorities you have toward your loved ones as you can get the insurance that will help them with daily expenses when you are gone.

For more information about the types of life insurance available, please contact us at Stromsoe Insurance Agency at 951-600-5751.