Life insurance isn’t a one-size-fits all solution, and everyone needs something a little different when it comes time to insure their future. No matter how much life insurance you need, there is a perfect policy out there that will protect what you love most.

In this article, we share some tips for helping you find the best life insurance policy for your budget and needs.

Know what you want to get out of your policy

To get started, consider what you want from your life insurance policy. Are you looking for coverage to protect your mortgage payments? Do you want financial support if you were to become injured or diagnosed with a critical illness and were no longer able to work? Are you looking for a policy that will provide financial protection for your spouse and/or children if you lost your job, or were to pass away unexpectedly?

To determine what kind of life insurance you need, ask yourself these questions:

  • Is there anyone who relies on you financially? Do you have children or a loved one who rely on you to contribute to monthly bills? 
  • Are you a small business owner, or do you have any business holdings for which you are exclusively accountable for? 
  • Do you need life insurance coverage for your entire life, or just for a certain term?  
  • What can you afford to pay each month to keep your policy in force?

Asking yourself these questions can help you determine the type of coverage you need. If you need more guidance when you’re shopping for life insurance, don’t forget that a licensed agent is just a click away – your Quility insurance advisor is available to help you find the policy that meets all your needs.

Find what works with your budget

There is a life insurance option for almost any budget. Your premium payment is based on the type of policy you choose, how long you need insurance coverage, whether you add riders to your policy, and your health and age at the time you apply for coverage. When you qualify online for insurance, you’ll receive a customized estimate with your premium payment. This payment can be adjusted to a monthly, quarterly or annual rate. Once your policy is active, you need to make premiums on time to keep your policy in force.

Consider laddering your policies

If you need a certain amount of coverage that one policy cannot fully provide, you have the option to ladder life insurance policies. Laddering means that you can choose a few policies that meet your requirements individually and then set different terms for the policies. This is a good option if you want one policy to support your mortgage payments and another policy to cover your high-risk years (such as the period in your life when your children are financially dependent on you). The ladder strategy can help you lock in lower premiums and can maximize coverage when needed. 

On the other hand, if you don’t know what the future holds for your family, it is best to stick with a singular life insurance policy.

Think about the future

Just as your own needs change over time, your life insurance needs can also evolve. When you pay your insurance premium, take a few moments to review your coverage to make sure that your current policy is still the best fit for your needs. When you regularly review your coverage, you will have a better understanding of how prepared you are for the future.

Need more information? Work with an insurance agent to complete your application

Trying to navigate the world of life insurance can get confusing very quickly – and trying to choose a policy that checks all your boxes can often feel very overwhelming. An easy solution is to work with a Quility advisor who is a licensed expert when it comes to insurance. Your agent can shop around to find the policy that fits your needs, completely hassle-free.  They can also recommend any add-on features that would benefit your goals for the future.

Ready to get started? Apply for life insurance online today!
We are happy to help you get the most out of your life insurance coverage at the most affordable rate. If you are ready to get life insurance, take the next step today! Get an estimate for your premium price and complete our simple online application today.
If you have questions about which coverage is best for your needs, a Quility insurance advisor is always here to help. Chat with us today to get a customized plan in place.

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Calie Brummer
Head of Digital Communications
Calie Brummer is a staff writer and Head of Digital Communications at Quility Insurance with a focus on financial well-being and life insurance solutions.