Life insurance is something you want to get right. You need to have the right amount and the correct type of insurance. To get to that point, you need to ask yourself some questions. Once you have the answers, talking to your local independent insurance agent can help you get the right amount. In Columbia, SC, you can count on the Michael Taylor Agency to provide you with the kind of service and customization you want.
What do you want from your life insurance?
Are you purchasing your life insurance strictly for the death benefit? If so, then term life insurance will provide what you need. If you want to end up with life insurance earning dividends and having a cash value you can borrow against, then whole life insurance may be more than what you have in mind.
Who depends on your income?
Of all the things that need to be considered, who depends on you is one of the most important. If you support your aging parents, that is much different from having young children who are counting on you.
How long will you need to supply support?
Depending on the age of your dependents, you may need to supply support for a very long time. That means having a longer term on your term insurance.
What is your income?
Your income affects the amount of life insurance you need to have. You are replacing your income with your dependents. You need to multiply your yearly income by the number of years you need to provide for. If you don’t need to supply all the amount they need to survive for the year, consider that.
Contact the Michael Taylor Agency in Columbia, SC for all your life insurance needs. We are happy to give you the personalized service you deserve.