Own a life insurance policy outside of work to ensure your family is protected.

Over the years, I’ve heard many different reasons as to why a person might not want to buy life insurance, but the number one reason I hear is that they don’t need life insurance because they already have a policy through work. If this is the case, then you are truly lucky because not all companies offer life insurance as a benefit, however, life insurance through your employer should be considered the icing on the cake. You need to own your PA life insurance policy and have your life insurance policy set up outside of work through a trusted PA insurance adviser, such as Evans Insurance Services in Chester County, PA.

Before you decide that you are absolutely not going to buy a life insurance policy, you need to ask yourself one important question…

“If I lost my job for health reasons, a disability, or because I quit or got fired, would I be able to take my life insurance policy benefit with me?”

I’m pretty confident that your answer will be no, which means that you are one step away from losing the PA life insurance policy that you depend on to protect yourself and your family. Unless you can absolutely guarantee that the situations mentioned above will never happen to you, you need to purchase a PA life insurance policy while you are still healthy and young enough to qualify for a PA Life Insurance Policy.

This year I had a client who confirmed my view about the problems of only having life insurance through work. His wife called to tell me her husband was planning on getting a new job and with this move, he was going to improve many things but he would also be losing his life insurance; I had been trying to set them up with life insurance ever since they became homeowners. Now, a home and three kids later, he needed life insurance and he needed it fast. Luckily, he was able to qualify for a new life insurance policy, and this story had a happy ending. Not all stories like this turn out so well.

I believe you’re the only one who can truly ensure that your family is protected, and in these trying economic times you shouldn’t depend on your company to do this for you. Take your life insurance policy in your own hands, after all, life insurance is the most affordable it has ever been. The time to buy life insurance is when you are healthy and young – that time is now.

There are a few things you should know about the types of policies available before deciding on which policy is your perfect fit. Simply put, there are two specific types of life insurance in PA – Term insurance and Permanent insurance. The main differences between the two are:

Term Insurance:

• Shorter, can last up to 30 years
• Premiums are very inexpensive.
• Once the term ends your policy expires or before it ends you can convert it to a permanent plan.

Permanent Life insurance:

• Lasts a life time.
• Premiums are much higher.
• Has a built in savings account which grows in cash value.
• The built in cash value over time grows and you can borrow against it at a low interest rate.

It’s important to own your life insurance policy so call us to discuss your life options and receive direction on purchasing your life insurance policy. Contact Steve@evansinsuranceservices.com or call us at 610-889-9300.