How to Match the Right Insurance Policy to the 4 Stages of Life

As we travel through life our needs change. A Young adult male or women with a household have very different insurance needs then the Empty Nester. Here is a usher to assist you determine what type of insurance best fits your need based on the 4 Stages of life

Stage 1

While traveling the great state of Show Me State one of the biggest expostulations I hear is why make I need life insurance. I'm young, single and healthy. That is the best clip to purchase life insurance. The younger you are and the healthier you are the cheaper life insurance is.

When you are still immature and single you may not really need life insurance but that is the best clip to purchase it. A small whole life policy of 50,000 or maybe 100,000 is really is good investing for a immature person. As long as you maintain this policy in military unit no matter how old you get. No matter what haps to your wellness you will always have got got insurance.

Stage 2

You get married bargain your first house and have a few children. At this point in your life you need enough insurance to pay off the mortgage if something haps to you and of course of study you would desire to do certain there is enough money for your immature growth household . Don't forget those college disbursals A Term Policy or universal life policy are what you should be looking into during this stage.

Stage 3

A friend of mine states life gets when the domestic dog deceases and the children alumnus college. Your Home is paid off or nearly paid off. Your children are all on their on and no longer number on you for support. Your concern now is to have got adequate money for retirement. Your Life insurance needs aren't that great that 50,000 Life policy you got when you were in stage 1 mightiness be all you need. Annuities, Universal Life and long term care are countries of insurance to look into during this pahse of your life.

Stage 4

The Golden Years. You desire to make certain you don't outlive your retirement savings. You also desire to protect the assets you have. Annuities and Long Term Care and Medicare Addendum would be your 3 chief countries of concern during this satge of your life.