Archive for April, 2013

Why You Need Life Insurance

If every person understood what every widower knows, no household would be without life insurance. It is apparent that people are eager to insure their homes, cars and health but when it comes to their lives they don’t give it much thought. Most people spend more than a better part of their lives working to provide an adequate lifestyle with the basic necessities for their family. What happens if you or your partner is not alive to contribute to the daily process of providing the basic necessities for your family?

Life is constantly changing and after the death of a household member survivors are left with several emotional and financial issues. Obvious economical changes occur when the main financial contributor dies. It is hard enough on a family that has two care givers or providers but what happens when there is only one? What about the doctors, dentist and orthodontist appointments? Grocery shopping? Preparing meals, laundry? Purchasing life insurance is one of the most important decisions you will ever make. Purchasing life insurance for children has many benefits. The younger the person at the time the policy is purchased, the less it will cost, per month or year. A low rate for a future adult is not only a savvy business decision, but with certain policies cash values can be generated. This is a cash value that can be used in the future for college, vehicles, or even housing.

Another way to strategically improve your insurance policy is to add a Guaranteed Insurability Rider. The endorsement allows an insured to purchase additional insurance coverage at specified periods of time without evidence of insurability. Adding this endorsement to a policy, usually at a minimal cost, guarantees that no matter what health issues arise in the future the insurance company cannot deny coverage. How much insurance should be purchased? What kind of policy should be purchased? These are questions for an insurance agent. If you don’t already have life insurance, it is time to get it.


New Website

Hometown Insurance Partners has a new website.