NORTHMARK LEARNING ROOM / Protection
Life insurance: start with the purpose.
A practical starting point for understanding what life insurance is meant to protect.
Northmark Financial Services ·
Start with the people
Life insurance can provide a death benefit to beneficiaries when an insured person dies, subject to the contract. Begin by identifying who depends on your income or unpaid work, which responsibilities may continue, and what resources already exist.
Separate the questions
The type of policy, the amount of coverage, and the length of time coverage is needed are different questions. A quick online assessment cannot answer all three. Review existing workplace and individual coverage before considering a change.
Bring better questions
Ask about exclusions, premium commitments, beneficiary designations, and what happens if employment changes. An individualized conversation should address your needs, budget, health, and the terms of any proposed contract.
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Source: NAIC — Life Insurance
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