I was somewhat new to insurance, besides having auto insurance and working briefly for a prior insurance agent while in school. I was ready to delve into my career and learn all I could about the products I was licensed to sell.
And to buy a whole life policy at that age was reasonably cheap! It made me feel responsible!
Knowing that if something were to happen, that my loved ones would not have to pay the cost. I also felt like a little investor, a smart one at that. Because I was learning about guaranteed interest, and all the living benefits that came with the policy.
As I got older, I felt it best to get Term Life Insurance. It does not have the investment benefits as whole life, however, it allowed me to get a larger face amount at a relatively low price. I felt the need to have this product, due to getting older and the possibility of children in the future, and/or to cover assets.
Nowadays, I find myself expressing to my clients the need for disability and umbrella insurance.
Disability Insurance gives you an added layer of protection shall something happen and you cannot resume some or all of your work functions. This product is especially important for those that are self-employed or plan on having kids.
If your employer does not offer disability insurance, it is definitely worth your time to get a quote. It’s more affordable than you think!
Umbrella Insurance is also a Great product that gives you additional coverage shall you be held liable for something, and you exhaust the liability limits in your auto/homeowners insurance policy. This is especially important to have if you, have kids, have many assets, like to entertain at your homes, or just want a Peace of Mind!