How much life insurance do you need?
That depends on your unique situation and how you’d like to best help your family.
From covering your kids’ school and college fees to mortgage payments to wiping out debt, or even replacing your yearly income, there are several options you can choose from to support your family – when you’re not around to do so yourself.
What options are out there?
When planning for the future and ensuring financial security for your loved ones, life insurance plays a crucial role. A popular option is term life insurance combined with long-term care insurance.
Term Life Insurance
Term insurance is a type of life insurance that offers coverage for a predetermined period, known as the "term," that typically ranges from 10 to 30 years. If the insured individual dies during this term, the policy pays a death benefit to the designated beneficiaries. Term insurance is usually a less expensive and more flexible option.
Young families and busy professionals looking for fast and affordable insurance can easily connect with Ethos and get term life insurance in 5 minutes, with no medical exams or blood tests.
With Ethos Insurance, you get a policy with up to $2 million in coverage, starting at just $2/day. Ethos’ application process ensures you get flexible coverage options quickly and transparently, allowing you to focus on what matters most.
Long-term care insurance
Long-term care insurance offers coverage for the costs of in-home assistance, nursing homes or assisted living facilities.
Without proper planning, paying for long-term care could deplete your retirement fund. In many cases, the burden of paying for care often falls on family members – potentially straining their finances.
When considering long-term care insurance, GoldenCare offers different options based on your needs, including hybrid life or annuity with long-term care benefits, short-term care, extended care, home health care, assisted living, and traditional long-term care insurance.
You can combine your term life insurance policy with a long-term care insurance policy to give you and your family peace of mind.
Choose from a broad range of coverage
If you’d like to be insured for longer than 10-30 years, or simply want broader coverage, you might want to consider checking your options through a free online marketplace such as BestMoney.
BestMoney connects families with insurance companies and certified independent agents and brokers – giving you a broad range of term life insurance options from which you can choose.
With coverage starting as low as $7/month and variable terms, you can quickly evaluate your options so you can choose a policy that will relieve your family of the financial burden of an untimely passing.
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Peace of mind
No matter what you choose, it goes without saying that having term life insurance will give you and your family greater peace of mind.
Allowing you and your family to live each day to its maximum, safe in the knowledge that you will still be able to support them and shield them from financial difficulties if something ends up happening to you.
