Life Insurance in New York
Life insurance is important for financially protecting the loved ones in your life. If you have dependents who rely on you for support, we're here to help. Consumers residing in New York who are looking to purchase life insurance may want to do the following three things before they purchase a policy:
Undergo a medical exam
If you are in decent health, you should definitely undergo a medical exam as part of signing on to a life insurance policy. Insurance providers are willing to offer a better deal on life insurance to individuals who are in good health. This is because they are less likely to die unexpectedly.
Many life insurance providers even require a medical exam or only offer very high-cost life insurance if the customer doesn't want to take a medical exam.
Calculate how much coverage you need
You shouldn't purchase a life insurance policy without putting careful scrutiny into the details. One of the most important details is how much the death benefit payment is on the policy.
To determine an adequate death benefit amount, you want to calculate how much your beneficiaries are going to need to keep up with expenses and maintain their lifestyle if you pass away. Discuss your needs with a representative from Carminucci Agency to find a death benefit amount that is appropriate for your dependents' situation.
Familiarize yourself with the two major policy types
The two major types of life insurance between which you'll need to choose are term life insurance and whole life insurance. Term life insurance is a simpler product.
With term life insurance, you simply make a monthly payment throughout the policy life and your dependents are paid the death benefit if you pass away within the policy term. On the other hand, whole life insurance will accumulate cash value over time while also being typically more expensive than term life insurance.
You can contact us at Carminucci Agency if you're in the market for the best life insurance policy.
We serve the broader New York area and are licensed in NY, NJ, CT, and MA. Do you need coverage in another state? We have you covered! – Just contact us!