Life insurance – it’s something we all need.
But how do you know what type of policy to get?
The team at Somerset Woods in Somerset, NJ wants to help you choose the best plan possible. Here’s how to do that.
Here are some tips from the best nursing home in Somerset, NJ that will help you find the best plan for your needs.
Don’t just talk to an insurance salesperson. Talk to a financial advisor – someone who can suggest a plan that fits your budget, as well as the financial needs of your family.
Can’t think you can afford an advisor? There are some no-commission financial advisors who can help you keep costs low.
There are multiple insurance plans to choose from, the most common is term life and whole life plans.
Term life insurance: Pay a premium and keep the insurance as long as you pay for it. There is no cash value with these policies.
Whole life insurance: This is a cash-value policy. Part of your monthly payment goes toward paying the plan, while the other half goes toward a savings account, making it ideal if you want funds available after your death.
Other options: Universal life and variable universal life – types of whole life insurance.
Investing in a good insurance policy will protect both you and your loved ones, which will help you have peace of mind.
If you have questions about what type of insurance plan you need, whether it’s life or health insurance, or you have questions about what an existing plan (like Medicaid) covers – the team at Somerset Woods in Somerset, NJ can help.
Do you have questions about life or medical insurance? Contact us with your questions – we’re happy to help.