Having a life insurance policy can provide a sense of security that family members and loved ones will be financially taken care of after you pass. But that policy may no longer meet the needs it once did. Things change and you may want to review that policy. That’s why our professionals at Hanneken Insurance Agency Inc. are available to serve the life insurance needs of Little Falls, MN community members.
Family Size Has Changed
This stands as one of the primary reasons you may want to update or create a new life insurance policy. Families are blessed with new members and need coverage to keep them financially well if a tragedy occurs. Another family change that people seldom consider is senior parents living with you that require specialized care. The cost of medical professionals can be expense and it’s an important consideration. Meeting changing family needs will allow you to sleep soundly at night.
Taking out a policy at the birth of a child makes a great deal of sense. But when that little person becomes an adult with income and wealth of their own, changes in beneficiary sums may be better served going to a spouse or another family member. Families evolve and so should your policy.
Home Costs Change
Another common way of looking at policy coverage is having enough to pay off the family home in the event you or a loved one passes. Mortgages are generally the highest expense for everyday people and it’s important to have adequate coverage to take care of that bill and others. As your property value increases, so will taxes. It makes sense to look at the total cost of paying for and running a home.
At Hanneken Insurance Agency Inc. we serve the Little Falls, MN community and our professionals are available to create or update a life insurance policy that provides you and your family with secure coverage.