Family is not only about being with the ones you love but protecting them too. Whether you are the lead financial supporter or head of the household in terms of caring for the children, paying bills, and household continuity, all the family input is relative and important when discussing life insurance. Each member of the family needs to know what this type of insurance is designed to do along with the benefits of the coverage. After all, you care enough about your family to provide financial security when and if the unexpected life scenario happens. Life insurance…financial security for your family.
Some Basic Tips to Discussing Life Insurance Benefits, but Not Limited to:
Discussing life insurance doesn’t need to be a stressful conversation, instead here are some general guidelines your family can follow to optimize productivity while minimalizing stress.
Be Realistic- Sitting down with the family to discuss life insurance is a great way to get everyone involved in the process and on board. Below is some essential information to consider when having the family conversation:
- Document(s) storage- Make sure everyone knows where the pertinent life insurance documents are stored along with any/all passwords or two-factor authentication associated.
- Contact information- Having the contact information such as insurance company name, agent info, and phone numbers, is key when a claim needs to be initiated.
- Awareness of the Claim Procedure- Knowing this information before your family needs to is important. Make sure each family member understands the claim process and how to initiate the claim procedure when necessitated.
Outline and Discuss Goals- Again, this does not need to be a depressive conversation, but instead one of family continuity and support. This should be an open conversation between your family members where each one of you can express plans for the future (aka, educational, financial, family planning, and other personal achievements). By discussing these goals, you can have a better and clearer vision of the protection most suited to fit these goals.
Consider Practical Benefits- Once you have gone over your family goals, then you can move on to consideration of the benefits and how they can protect those goals. Life insurance isn’t just about the financial, but the protection of your family’s dreams and goals as discussed.
Benefits Provided Under a Typical Life Insurance Policy Include:
- Funeral expenses- An average funeral costs over $10,000. A life insurance policy can ensure that these costs are covered, reducing the financial strain during what is a very difficult time.
- Mortgage protection- Imagine if the financial breadwinner is no longer able to provide the security for the family due to death. This coverage can ensure that your family won’t have to struggle to pay the mortgage.
- Student loan/Education protection- If your family consists of small children who are in private school or older children who are planning to attend college, this coverage provides protection for education protection.
Make sure you discuss coverage options with your agent. Life insurance policies generally fall into two categories, “term” and “permanent.” Make sure you discuss coverage options with your local Alabama independent insurance agent to find the options that work best for you and your family’s specific needs and budget. Researching and understanding your life insurance options is an integral part of forming the kind of security your family needs and we, at Burkett & Associates, are here to assist you reach that goal.
It’s Peace of Mind for Your Family!
If something happened to you, as the breadwinner of the family, your family needs protection to be able to continue with their life goals. Protect your family’s dreams and ambitions today! Contact us at Burkett & Associates for any questions or concerns regarding life insurance coverage today. We will assist you with the protection your family needs within a budget you can afford. Don’t wait! Call us today at 256-704-7400. Your life depends on it.
