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The Life Insurance Blog

Helping millions of Americans become educated
in making decisions about their life insurance needs

                                                    

5 Life Insurance Tips for New Parents

Jul 18, 2014 1:49:00 AM

You’ve just begun a new chapter in your life as parents. With so much new-found responsibility, what steps can you take to protect your new bundle of joy? Let’s start with these simple life insurance tips:

tips for new parents1. Understand Your Options

Before you begin shopping around or comparing life insurance products, it is up to you to first understand your basic options. There are two types of life insurance: term and permanent. Term life insurance is typically more affordable and provides coverage for a given amount of time. Permanent life insurance is designed to provide coverage throughout your lifetime and can also serve as an investment tool. To learn more about the risks and benefits of each, be sure and read this complete blog post on the topic.

2. Complete a Life Insurance Needs Analysis

In order to determine how much coverage you will need, it’s important to complete a needs analysis. Not sure where to start? Here at IntelliQuote, a life insurance advisor will provide a comprehensive needs analysis with no obligation to purchase coverage. Allow us to walk you through a brief, yet thorough, series of questions. Once complete, we will be able to help you determine how much life insurance coverage your young family needs.

3. Insure Both Parents

Even if you’re a single income family, it’s extremely important to insure both parents. Consider how much it would cost to replace the services your stay-at-home-parent is currently providing. It is essential to the financial wellbeing of your entire family to purchase coverage for both parents.

4. Shop Around

In order to secure the best deal, it’s essential to compare life insurance rates from several life insurance companies. Don’t have the time to contact several providers? Work with an agency. Here at IntelliQuote, we work with the industry’s top rated carriers. In a matter of minutes, we will complete the comparison shopping it would otherwise take you days to complete. It’s that simple. Complete our quote request form and allow us to provide a side-by-side life insurance rate comparison.

5. Buy Now!

Buying life insurance when you’re young and healthy is essential. This is the best time to lock in a competitive life insurance rate and to provide your family with the protection they deserve.

By keeping these five tips in mind, you can rest assured that you’re taking the proper steps to protect your family today and for years to come. If you’re ready to compare life insurance rates, request a quote today! Allow us to walk you through the entire process.

Would you like to receive more tips and insight on selecting the right coverage for your family’s needs? Follow our blog! Here we will cover the trending topics and industry developments that impact your family’s financial health. While there, be sure and read these recent popular posts:

The Truth About Financial Planning and Raising Children Later In Life

5 Financial Missteps for Millennials to Avoid 

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