{"id":8002,"date":"2022-09-16T13:53:03","date_gmt":"2022-09-16T05:53:03","guid":{"rendered":"http:\/\/zestmag.com\/online\/?p=8002"},"modified":"2022-09-16T13:53:04","modified_gmt":"2022-09-16T05:53:04","slug":"5-tips-when-buying-life-insurance-for-the-first-time","status":"publish","type":"post","link":"https:\/\/zestmag.com\/online\/5-tips-when-buying-life-insurance-for-the-first-time\/","title":{"rendered":"5 Tips when buying life insurance for the first time"},"content":{"rendered":"\n

Major life changes like getting married, starting a family or buying a house are often when people start thinking about buying life insurance. Now, more than ever, people are more concerned with their financial security. Buying a life policy can be a process that sounds intimidating or confusing \u2013 but it’s also very important.<\/strong><\/p>\n\n\n\n

During this Life Insurance Awareness Month,\u00a0Erie Insurance<\/a>\u00a0shares five points to discuss with your agent when buying life insurance for the first time.<\/p>\n\n\n\n

  1. Understand who (or what) you are protecting.\u00a0<\/strong>While anyone experiencing a significant life event like getting married or starting a family often recognizes the need for life insurance, others may not realize they could benefit from it as well. For instance,\u00a0stay-at-home parents\u00a0and\u00a0student loan cosigners\u00a0could have a definite need for life insurance.<\/li>
  2. Only buy the life insurance plan you can afford.<\/strong>\u00a0Many people are surprised at how much life insurance they really need to protect the people and things they love most \u2013 but they are also surprised at how affordable it can be. If you cannot find a policy that fits in your budget, it’s a mistake to forgo any coverage at all. Something is definitely better than nothing.<\/li>
  3. Think through your beneficiaries.\u00a0<\/strong>A\u00a0life insurance beneficiary\u00a0is the person or entity you name in your life policy to receive funds in the event of your passing. Your beneficiary can be a person, business, trust, charity or even your church. And you can have more than one. It’s important to make sure you think through who your beneficiaries are and if any proceeds meant to benefit a minor should be held in a trust.<\/li>
  4. Buy from a financially sound company. Y<\/strong>ou want the backing of a financially strong insurer if you or someone you love needs to call on the life insurance policy. A.M. Best, the largest and longest-established company devoted to issuing in-depth reports and financial strength ratings about insurance organizations, gave Erie Family Life Insurance Company a rating of A (Excellent).<\/li>
  5. Consider current and future needs.<\/strong>\u00a0Don’t just consider your current lifestyle, keep in mind your future needs and what those could include for your spouse, children or business (think college expenses, weddings, etc.). By taking in these considerations today, you’re investing in the security of your future. Life insurance is less expensive than most people think\u2014and that’s especially true when you’re younger.\u00a0<\/li><\/ol>\n\n\n\n

    A knowledgeable and professional\u00a0insurance agent\u00a0can offer trusted guidance when it comes to finding the right life insurance protection at the right price. Life insurance with Erie Family Life offers you the right coverage with flexible options, helping you to build a policy now that is adaptable later. <\/p>\n","protected":false},"excerpt":{"rendered":"

    A knowledgeable and professional insurance agent can offer trusted guidance when it comes to finding the right life insurance protection at the right price. <\/p>\n","protected":false},"author":3,"featured_media":8003,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4,3,15],"tags":[2048,2218,1810,2275,1914],"class_list":["post-8002","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-newsmakers","category-spotlight","category-opinions","tag-good-life","tag-high-life","tag-insurance","tag-insurance-industry","tag-insurance-policy"],"_links":{"self":[{"href":"https:\/\/zestmag.com\/online\/wp-json\/wp\/v2\/posts\/8002","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/zestmag.com\/online\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/zestmag.com\/online\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/zestmag.com\/online\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/zestmag.com\/online\/wp-json\/wp\/v2\/comments?post=8002"}],"version-history":[{"count":1,"href":"https:\/\/zestmag.com\/online\/wp-json\/wp\/v2\/posts\/8002\/revisions"}],"predecessor-version":[{"id":8004,"href":"https:\/\/zestmag.com\/online\/wp-json\/wp\/v2\/posts\/8002\/revisions\/8004"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/zestmag.com\/online\/wp-json\/wp\/v2\/media\/8003"}],"wp:attachment":[{"href":"https:\/\/zestmag.com\/online\/wp-json\/wp\/v2\/media?parent=8002"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/zestmag.com\/online\/wp-json\/wp\/v2\/categories?post=8002"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/zestmag.com\/online\/wp-json\/wp\/v2\/tags?post=8002"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}