November 27, 2021
  • November 27, 2021

Life insurance sales are on the rise. What coverage do you need?

By on September 16, 2021 0

If something happened to you, would your family be protected? Would your debts be settled or assumed by a loved one?

CHARLOTTE, NC – Death isn’t something people want to talk about, but being prepared and buttoned up, even with a small life insurance policy, can help your family if something suddenly happens.

Life insurance sales are on the rise, and while it might be easy to think the COVID-19 pandemic is pushing the trend, experts say that’s only partially true. In fact, life insurance has been trending upwards since 1983.

When a person thinks of their family, experts suggest wondering how they would fare if something happened.

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“Most of us are aware that life insurance can help pay for these final expenses and that it’s not just those of us who have dependents who need it,” said Darin Reeser. , Regional Director of Supplementary Health Benefits at Securian Financial.

Reeser said millennials are among the biggest buying groups for life insurance today, especially when they become parents.

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“Life insurance sales are higher now, even more since 1983,” Reeser said. a lot to do with it. “

So where do you start if someone is younger? Your employer is a good first step. Typically, employees are eligible to receive the benefit of one year’s salary, but this can be added. It’s cheap and you don’t normally need a medical exam unless the amount is high.

WCNC Charlotte always asks “where’s the money?” If you need help contact the Defenders team by sending an email [email protected].

How much does someone need? The answer, as in most situations, depends. A person would have to weigh their debt and the needs of their family if they are gone. Debt doesn’t just go away. So, if one person has a co-signed obligation like a car loan, the other person is still responsible for those bills.

“It’s always a good idea to make the recipient a loved one,” Reeser said. “Someone you trust, in case something untimely happens to you, he can lead it.” “

Some states have different laws regarding debt after a person’s death. It’s a good idea to know what is protected and what is not. These are some of the questions people should always ask themselves when purchasing a life insurance policy.

Contact Bill McGinty at [email protected] and follow him on Facebook.

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