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Insuring Your Home

When we started thinking about buying a home, I realized that we had a boatload of work to do. I knew that we needed to save up a down payment, talk with a mortgage broker, and most importantly--figure out what we were doing about homeowners insurance. Fortunately, a friend of mine told me about a great insurance broker in our area who handled that kind of thing. We met with her to talk about our options, and before we knew it, we had found a policy that really melded with our budget and lifestyle. This blog is all about insuring your home.




Buying Life Insurance: 3 Things First-Timers Need To Know

There are many things that you have to do in life that are scary, and purchasing life insurance is one of them. It isn't a task that you necessarily want to do because it makes you think about your death, but it is a task that is absolutely necessary if you want to ensure that your loved ones are well taken care of once you pass. While the process of buying life insurance itself can be a bit stressful, you are going to feel so much better about the financial safety of your loved ones once the purchase is complete. If this is your first time dealing with life insurance, here are a few tips to get you started and to ease your stress a bit:

Tip #1: Understand the Reason You Need Life Insurance

So, why are you interested in buying life insurance at this exact moment? It is important that you aren't doing it simply because someone told you that you need to. While it is true that it is a good idea to have a life insurance policy, you need to purchase it because you are ready and you believe it is a good idea.

Life insurance is intended to help provide families with much-needed financial security when a loved one passes away. It can help pay off a mortgage, fund retirement, pay for college, and more. Essentially, if anyone counts on your monthly income for support, you should consider a life insurance policy. Even if the needs are not immediate (for example, you don't have a family), you could simply start off with a small policy because life insurance premiums are less expensive when you are younger.

Tip #2: Calculate How Much You Need

You need to figure out how much of a life insurance policy you want to take out. There are online calculators available that you can use, but it is best if you speak to a financial planner who can take a look at your finances and help you determine the most appropriate amount. They will take into consideration your income, debts, assets, etc.

Tip #3: Determine the Type of Policy You Need

There are many different types of life insurance policies available, and the type of policy that you need will ultimately depend on your individual situation. There are two primary types of polices, though, and these are whole and term. Other less common policies, include variable and universal. Common or not, it is important that you consider all life insurance policies.

Whole life insurance will provide coverage for you until the day that you pass away, then your listed beneficiary will receive your policy's death benefits. Term life insurance will provide coverage for a specified period of time. Now, should you outlive that period of time, the policy expires and the death benefit is void. When this happens, a new policy can be purchased.

These three tips will help you get started with the life insurance buying process. If you would like to learn more about life insurance or if you are ready to purchase a policy, contact an agent in your area. Visit a site like for more help.