Questions to ask before choosing life insurance

There is nothing unusual about having questions when considering changing your life insurance coverage. At Homeowners Insurance Group in Scottsdale, AZ, our team is dedicated to ensuring you have the right coverage at the best price. 

What is the difference between team life and whole life?

Both whole life and term life provide a death benefit, but that is about all they have in common. A whole life insurance policy lasts for your entire life, and a term policy has a term which is often 20 years. A whole life policy earns dividends, and a term life doesn’t. When the term is up, nothing is left. 

When is the best time to purchase life insurance?

Life insurance is at its most affordable when you are young and healthy. Of course, that is usually the time when you feel you have the least need of it. It is also when you may be the least able to afford it. At this time of life, whole life is probably the best option. Buying term life insurance may be too early because you want it to last for all the years you need it. 

How much life insurance do I need?

This is the most challenging question for anyone to answer. So many different factors go into figuring it out. It depends on your income, the number and age of your dependents, and how many years you want to cover them. 

Who should I have as a beneficiary?

Choosing your beneficiary is a very personal decision. You may want your spouse, a friend, or your grandchildren. It is up to you. 

Contact Homeowners Insurance Group in Scottsdale, AZ, when you want to ask questions and discuss your life insurance coverage. We are here to help.