Important Questions to Ask Your Mississippi Life Insurance Agent

Helpful Tips from the Professionals at Executive Planning Group

Protecting your employees and your family is vital to the wellbeing of your company. Determining the best coverage for your situation requires asking the right questions and knowing what your goals are. You could cause financial strain on your family if you do not choose the best options for them.

Consult with a Mississippi life insurance agent from the professionals at the Executive Planning Group. Our team can answer your questions to assist you in making the best choices. Every question is significant to ascertain the best course of action, so don’t hold back.

5 Questions to Discuss with Your Life Insurance Agent in Mississippi

Whether you offer group insurance to your employees or you are in the market for a new policy, here are five questions you should ask:

  1. How much life insurance do I need? This is where you start, and it may seem like the most basic question. But the answer depends on different factors. First, you want to consider your current financial obligations. This can include your mortgage, debts, and childcare. Then, consider your family’s future needs, such as college education for your kids and retirement for your spouse. Some people start with an amount that is equal to 10 times their current annual income. This may be much more than you really need; therefore, it is helpful to discuss this with your life insurance agent.
  2. What different types of life insurance policies are there? The kind of life insurance policy you buy will fall into one of two basic categories. There is term life coverage in which you choose a length of time, say 10, 20, or 30 years, the amount of coverage you need, and then you pay the same premium over that timeframe. The second category of life insurance is called permanent whole life. Within this category, your coverage lasts for your entire life as long as you pay the premiums.
  3. How much do the premiums cost? There is not a cut and dry answer to this question. Insurance is about risk coverage. Underwriters will determine your risk by looking at your age, medical history, use of nicotine and alcohol, and any hazardous hobbies in which you may engage.
  4. How are the death benefits paid? This depends on your goals. You may decide if a lump-sum is needed, or you may authorize benefits to be paid in monthly installments.
  5. How do I get the coverage I want and still save money? If you choose term life insurance, your premiums will start lower and increase as you age, and your term expires. A permanent whole life policy will not have premiums increase during your lifetime as long as the plan never lapses. To get the best coverage and still save money, don’t put off purchasing life insurance. The younger you are, the less expensive the premiums will be.

Ensure Adequate Protection with Help from Your Mississippi Life Insurance Agent

Leave a financial legacy for your family after you die by choosing the best life insurance coverage for them. At the Executive Planning Group (EPG) in Jackson, Mississippi, we enjoy working with executives, small businesses, and individuals to help you reach your financial goals. Get in touch with us today! Request a quote online.

Call 601-982-3000 to talk with a life insurance agent in Mississippi, to discuss your unique needs and long-term goals.

Disclaimer: Securities offered through Valmark Securities, Inc. Member FINRASIPC. Investment advisory services offered through Valmark Advisers, Inc., an SEC-registered investment advisor. Executive Planning Group is a separate entity from Valmark Securities, Inc. and Valmark Advisers, Inc.

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