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California Insurance Blog

How Much Life Insurance Do You Need?

It’s easy to be confused when it comes to life insurance. There are different types of policies, and those policies come in different amounts, making the whole process of selecting the best life insurance policy trickier. At THINK Insurance & Financial Services, we want to help you understand how to choose the amount of life insurance you need for your family.

Assess Your Financial Situation

The first step in purchasing life insurance is to determine what your current financial situation is for your family. You should take a look at your long-term goals, and your savings account to determine what assets you have that can be used towards your expenses, such as paying off your mortgage and funding your children’s college fund.

Determine Your Financial Gap

After you have an idea of where you are, you need to determine where you want your family to be financially if you were no longer in the picture. Do you want them to have a nest egg of $100,000? Would you like for your mortgage to be paid in addition to the nest egg of $100,000? You can determine you can determine your financial gap by subtracting where you are currently (a monetary figure) from where you want your family to be if you are no longer able to provide for them (a monetary figure).

Talk to Our Local Insurance Agents

Once you’ve determined the gap in your finances, it’s time to speak with a licensed insurance agent. One of our agents will take a thorough look at your calculations, discuss a few options with you, and present an insurance strategy for you. The strategy will take into consideration things like how much you make each year and your life expectancy.

When you are ready to review the options you have available for life insurance, start at our website. On our site, you will find information that can help you begin the process of purchasing the life insurance product that is right for you

What Kind of Auto Policy Is Perfect for You?

Not all auto policies are the same and that means they are not always ideal for every person. There should be specific things that you look for when shopping around for auto policies but there are many people who don’t. To help you find the right auto policy for your needs and wants, there are a few extra steps you need to take before signing up for a policy. continue reading for some basic tips to get you started and find the perfect auto policy for you. 

  • Take a look at some recent company reviews. Not all companies are created equally and just like there are some awesome auto insurance providers out there, there are also some terrible ones that you do not want to get stuck with. To know what you are getting into beforehand, take some time to read some company reviews. It can tell you a lot about how they deal with claims and their customers. 
  • Do not just sign up for the lowest cost plan that you find. There are usually a lot of gaps in these plans or you can end up signing up with a terrible company. These prices are usually too good to be true.
  • Take a look at the policy before you sign up to make sure there are no gaps in coverage and that you are getting exactly what you were wanting out of your plan. Even if you discuss the specifics with the agent during sign up, make sure you sign off on the final policy so you can be sure it is accurate.

If you want to take a look at your current auto policy for any gaps or if you want to get a quote for a new auto policy, feel free to contact us at THINK Insurance & Financial Services today. 

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