When was the last time you reviewed your life insurance policy with an industry professional? Do you know how much life insurance you carry? Do you and your spouse both have life insurance protection? Unfortunately, life insurance continues to be the most under-purchased insurance product available in the United States today. Bankhead Insurance Agency, however, is seeking to change this.

Who Needs Life Insurance

Everyone with a heartbeat needs life insurance. Young professionals and recent college graduates need to make sure their families will be able to pay final expenses in the event that they pass away suddenly. Parents with young children need to make sure their children will have all they need in the event that they are left as orphans. If you have a mortgage, car loan or other regular monthly expenses, you need to make sure that you have sufficient life insurance to cover those expenses if you die before your spouse.

What Life Insurance Do You Need

Your life insurance needs change over time. Protecting your family’s future today will look different than it did a couple of years ago, and it will look even more different two, three, or ten years down the road. At Bankhead Insurance Agency, we recommend policy reviews on a yearly basis. You especially need to review your coverage any time

• You or your spouse changes jobs or has a significant change in annual income
• You add a member to your family
• You take responsibility for the care of an aging family member
• You start or significantly grow your own business
• You have a change in marital status
• A child leaves for college
• You or your spouse receives an inheritance of significant size or value

Whole or Term Life Insurance

You may have questions as to whether you should purchase whole life insurance or term life insurance. Whole life insurance covers the insured individual for life, regardless of the time of death, as long as the terms of the policy are met. Term life insurance covers the insured individual for a set period of time, after which the policy generally expires. Some term policies can be rolled over into whole life policies.

For more details about life insurance or to get a complete policy review, contact Bankhead Insurance Agency. Let us help you protect your family’s future.

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