Life Insurance

Learning how to buy life insurance quickly goes from “simple” to “confusing” if you are trying to do it all on your own. Since it’s not something you do every day, navigating all of the terms can be overwhelming. At WN Insurance, we take the time to explain everything you need to know so you can make the best, informed choice for your life insurance policy.

Contact us to start a conversation now, or keep reading for answers to the most common questions we hear when it comes to buying a policy.

Frequently Asked Questions

Don’t be embarrassed if you don’t know much about buying this coverage; we know it’s not the most exciting topic! Here are some of the questions we get asked the most, to give you a head start before buying life insurance.

Who Needs a Life Insurance Policy?

Getting life insurance isn’t something most people think about until they start a family, as they have little people to be responsible for. But did you know that the policy isn’t just for parents? If you’re financially responsible for anyone, buying a life insurance policy is something you’ll want to consider. This could be your spouse, grandchildren, or even other family members in your care. It is also a generous way to leave something extra behind for loved ones, like tuition or the downpayment on a home for your children or grandchildren.

How Much Do I Need?

Your insurance advisor will help you crunch the numbers when it comes to how much of a benefit you’ll need and what your premiums will be. Here at WN Insurance, we may even be able to bundle some of your other insurances with your life insurance to help save you money.

Before you talk with your advisor, it will help to know some figures ahead of time, such as:

  • Annual or monthly income after taxes
  • Monthly bills
  • Debts (car payments, mortgage, credit cards)
  • Future expenses such as tuition or funeral costs

These numbers will help to determine how much you want to leave behind for your loved ones to support them after your death. It’s also a good idea to check if you have any life insurance coverage through work, church, your union, or other associations. These types of policies tend to be very limited in their benefits, and you should know what they do (or don’t) cover before purchasing an individual policy.

How Much Does it Cost?

When you are buying life insurance, the cost of your monthly premiums is determined by many factors, such as your age, gender, health, habits, family health history, and even your hobbies. The more of a “risk” you are, the more expensive your insurance will be. If you’re young, healthy, and fit, your premiums will be a lot less than someone in their fifties who has smoked for decades and loves to skydive. Since none of us are getting any younger, buying a life insurance policy before your next birthday could mean cheaper payments.

Your premiums will also depend on how much coverage you want, the length of the policy, as well as the type of policy and customizations you choose. There are two broad types: term and permanent. Term insurance covers you for a set amount of time, such as while raising a family. If you die during the term, your beneficiaries receive the benefit. Permanent insurance doesn’t expire until you either die or reach a certain age, and may even offer a savings option. Of the two, term insurance is usually the most affordable, and your insurance expert will help you choose the right coverage for your needs.

Choose WN Insurance for Your Life Insurance

Buying a life insurance policy means looking at a lot of numbers, but you’ll never feel like “just another number” when you work with us. We take the time to understand your needs and circumstances, so we can create a customized life insurance policy that will provide for your loved ones should the unthinkable happen.

With nearly twenty years of experience in Texas, we have excellent relationships with 70+ insurers. This means we can offer you the most options and best service for all of your insurance needs. Life insurance is meant to take care of the people you love the most; let us take care of you through the process.

Contact us now to learn how WN Insurance can create a custom policy for you.