Your Guide to Life Insurance

Life Insurance in Hopkins MN

Life Insurance in Hopkins MNUnless you’re immortal, you’ll need life insurance!

Over 90 percent of Americans think that life insurance is necessary. Only 63 percent of adults have insurance, and only half of these people have adequate coverage. These stats tell the story that perhaps the general public is not as well-versed in life insurance knowledge as they should be.

Fortunately, we’ve compiled a list of everything that you need to know to make an informed decision when securing your life insurance – along with why you need it!

What is it?

In essence, life insurance is a safety net to fall back on when you are no longer around to support your spouse and family. Life insurance allows your family to focus on mourning without worrying about finances. It can help your family cover your funeral costs, pay off remaining debt, and can even be used for your spouse to retire as planned or your child to go to college.

Who needs it?

Unless you’re immortal or are single with no dependents, you’ll need life insurance! Those with a family need to ensure that their loved ones are not financially strained after their passing. Even those who are stay-at-home parents need coverage too. Even though you may not provide an actual paycheck for the household, you do provide services that would cost tens of thousands of dollars to replace. Your spouse would have the expenses of day care, taxi services, and cleaning the house.

How much coverage is necessary?

In order to give you a rough idea of how much coverage you need, tally up any outstanding debt, including your mortgage. Secondly, think about how much of a contribution to the family finances you’re responsible for. In an ideal world, you’d want to match that. Talk to an adviser to acquire the right coverage for your family!

To secure the most reliable and most suitable life insurance policy for you and your family, talk to an insurance expert at Kurt Rolf Insurance Agency! Contact us to get started on your policy in Hopkins and neighboring cities in Minnesota.