Have you been thinking about purchasing life insurance, but worried that it might be too expensive for your family right now?  Today we’ll show you how to get great life insurance for any budget!

LifeHappens.org reports that 86% of Americans haven’t bought life insurance because it’s “too expensive” yet overestimate its true cost by 2x!  So it’s time to set the record straight so that you can get the right coverage for your family.

Life insurance, like all insurance rates, is determined by risk.  The greater the risk of death, the higher the cost.  In a young, healthy person life insurance is extremely inexpensive, generally less than $20-25 a month for a term insurance plan. As we’ve discussed on our blog before, there are two main kinds of life insurance policies, term and whole life.  Term insurance policies are only active for a set term, generally 10, 20, or 30 years.  The shorter the term, the less expensive the premium, since the risk of death decreases. 

If you have young children and need life insurance at the lowest possible price, then a term policy is a great option!  You can get inexpensive coverage to protect the family just until the kids are grown (or whatever your long term goal might be).  Remember, you also get to choose the amount of insurance you need.  If you only require $50,000 in coverage, then you’ll pay less than you would for $250,00 in coverage.  The amount of coverage you need will depend on your household income, debt, and how you want your life insurance to be used. 

All of these factors can be adjusted to make the policy work best for YOU! 

The best way to make life insurance work for your budget is to work with a local agency (like us!)  We’ll run a variety of quotes at different coverage amounts and terms so you have several options.  We’ll also look at your current age, health status, family obligations, and your long-term protection goals to recommend the best possible coverage.  Call us today to schedule a free, no-obligation consultation and quote!  888-565-2200 or visit us online.

At the Bryan Insurance Agency we are the leading agents for your family for both term and whole life in New Windsor, Long Island, and the surrounding New York area. 

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