Life insurance is something that everyone starts thinking about sooner rather than later, especially once we start families, businesses and have financial commitments that we don’t want to burden our loved ones with if we pass before them.
Old Or Young?
As with Oregon car insurance, age doesn’t matter, you can be 16 years old or 25, you still need to have car insurance if you plan on driving the roads of Central Oregon, the same also applies to life insurance; if you’re able to drive, work and live your own life, you should consider having some form of life insurance protection so any debts or expenses can be paid in the event of your untimely death.
How Much Coverage?
With life insurance you should always think about what your bills and expenses are right now and what they might be in the future, 10 or 15 years from now. For example: if you only have $20,000 debt right now, you should at the very least, get a life insurance policy that offers $100,000 worth of coverage, that way your debts or bills will be covered plus any debts or bill remaining from a possible extended hospital stay.
For those people who have larger bills or expenses like mortgages and car payments they should add up their total bills/expenses then multiply that number by two because, the goal is to have enough life insurance coverage to pay off those final bills plus have cash left over for paying off any final expenses like medical bills, burial costs etc.
Get Life Insurance Coverage Today
Life insurance may seem a little more complicated than car insurance when in reality it’s a very simple decision to make that will provide your loved ones with peace or mind in the event of your passing away before your time. Click here to start your quote online.