First off… Congratulations! If we could change our page to the appropriate pink or blue color to celebrate your family’s newest addition, we would. Now let’s protect that baby!
Did you know? The estimated cost to raise a child to the age of 18 is $250,000
As a new parent life insurance protects your family and enables them to continue to reach the dreams you have for them, even if something were to unfortunately happen to you.
Choosing The Right Life Insurance Coverage
To many people life insurance can initially seem intimidating, but you just had a baby — this is nothing!
Life insurance is most commonly offered in two forms — term life insurance and whole life insurance. Let’s see the difference of both before offering life insurance advice to what is best for your circumstances.
Term Life Insurance
- Pays a death benefit if death occurs during a set term of your life (ex: 20 yrs, 30 yrs)
- Lower premiums for more coverage
- Rates can change after each term expires
Whole Life Insurance
- Generally covers you for your entire life
- Can build equity and have a cash value
- Higher premiums, but can accrue more value as time goes on
The answer for your life insurance needs doesn’t have to be one or the other. Often, our insurance agency writes a combination of coverage to tailor life insurance coverage specific to your needs. With the addition of a new child, ask yourself “How long this child will be dependent on your financial contribution?”
Tailoring The Right Life Insurance
Your family is unique. Our agency feels you can be best insured after an agent understands your risks and needs. We measure your family’s expenses and costs to determine the appropriate amount of coverage needed.
The advantages of speaking with a independent life insurance agent are:
- Personal service with an agent who cares.
- Access to numerous life insurance markets to find good price on the coverage you need.
- Ability to provide sound life insurance advice.
Our agency is interested in helping you find the best life insurance plan for your needs and have seen the continued success of an independent insurance agent relationship to tailor the unique coverage you need.
We want to get to know and understand you and your family and all the expenses your family faces. After talking with a person who has unique access and thorough understanding of life insurance we can pair you with a tailored plan specific to your exact needs.
New Parents Need To Shop Their Life Insurance Policy
A common misconception of life insurance is that you need it when you reach a certain age. The reality is you need life insurance when you have significant life events such as buying a home, acquiring a large amount of debt, or the addition of a family member.
Another misconception about life insurance is it is commonly assumed to be expensive. Life insurance is very reasonably priced especially for the level of protection you receive.
As a parent it is vital you shop for the best life insurance coverage and have a policy put in place to protect your family.
Go Love On Your New Baby
With the addition of your newest child life has changed, forever. Celebrate these new changes and be prepared to take care of them for years to come.
Life insurance doesn’t have to be complicated, it is simply a way to love and protect your family.
Let us know if you have any questions about your life insurance needs or are just seeking some good life insurance advice.
Congratulations on the arrival of your new child, love on your new baby and do everything you can to take care of them.