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Colorado Insurance Blog

Who needs to have a life insurance plan?

In the state of Colorado, the average resident will have various insurance needs. A type of insurance that all people here will need to think about getting is life insurance. This type of coverage will pay out an insurance benefit if the insured party passes away during the term of the policy. There are various situations when someone in this state will want to have this coverage. 

Who needs to have a life insurance plan?

Those that Want to Protect Dependent’s Financial Future

One of the reasons that someone will want to have a life insurance plan in place is so they can protect the financial future of their dependents. If you have people that rely on you as a source of income, it is important that you protect them. A great way that you can do this is by investing in a life insurance plan. With this coverage, you can build a plan that is curtailed to meet your dependent’s needs. 

Those Looking for Alternative Investment

You should also consider getting a life insurance plan as a way to diversify your investments. Through the use of whole life insurance, you can enjoy a conservative investment that is a good addition to any plan. With this type of coverage, some of your payment builds into an account with interest that you can close and liquidate in the future.

Contact Integrity First Insurance today

As you are looking for a new life insurance plan in Colorado, you can quickly find that there are a lot of options to consider. Due to this, speaking with the team at Integrity First Insurance is helpful. The professionals with Integrity First Insurance understand the value of this coverage and can help you evaluate your needs and options. This can ensure you are able to build a plan that is ideal for your situation. 

Life insurance FAQs

If you think it is time to look into life insurance and have lots of questions, you are not alone. Taking a "How to choose life insurance" course would be great if such a thing existed. But since it doesn’t, you have to count on the internet or your local independent insurance agent. In Colorado, Integrity First Insurance has a team of knowledgeable agents who can help you make this critical decision. 

What type of life insurance should I purchase?

The type of life insurance you purchase depends on what you want from it. If you are looking at a long-term lifetime financial plan, then whole life is a good option. If you need a large amount of insurance for a period in your life, then term life insurance fits the bill. 

How much life insurance do I need?

You need enough life insurance to provide the protection for your loved ones they will require. This is a very personal decision and depends on many factors, including how much you can afford to pay. If you have small children, that increases the amount you will need to get them through to adulthood. 

Does being a smoker affect my ability to get life insurance?

Being a smoker won’t stop you from being able to get life insurance. However, it will affect your premium. The good news is, if you quit smoking, you can change the classification on your policy and likely lower your premium. 

What can cause my life insurance to be canceled?

The most common reason for life insurance policy cancelation is failure to pay the premium. If you are having financial difficulties, contact your carrier. They may be able to work with you to get you through a difficult time. If you put untruthful information on your application for life insurance, and it is discovered, your policy will be canceled. 

Contact Integrity First Insurance in Colorado for your life insurance needs. 

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