Tim McElhinny, CIC, LUTCF
Partner, McElhinny Insurance Agency LLC
CONGRATULATIONS! It’s what you hear when you:
A) get married
B) have a baby
C) get a new job
D) buy a home
And when you hear it, it might be a good time to evaluate or re-evaluate your life insurance needs. You can protect the lives of your loved ones, protect your legacy, protect everything most important to you with life insurance. The best time to look at life insurance, really, is when you experience one of these big life changes. Here are some questions to ask yourself:
Marriage: How much life insurance do you and your spouse need now that you share expenses and financial goals? If something were to happen to you or your spouse, would your expenses be covered and would your financial goals be met?
New baby: Children are expensive little buggers! And we’re not just talking toys and birthday parties. We’re talking daycare, clothes, food, college…would you be able to pay for those items on one salary —or no income at all?
New job: It’s only human nature to increase spending when more money is coming in. Will your family be able to maintain their lifestyle if the income stops?
New house: Could you stay in your current home if something happened to your spouse? A lot of people, unfortunately, cannot. The costs of home ownership go beyond just the mortgage. Utilities, taxes, unforeseen repairs and other maintenance costs can cause your family to be uprooted at a time when they need stability most. When you purchase homeowners insurance, make sure you ask about life insurance as well.
How much do I need? And what type? These are the questions we can help with. We can explain the difference between term, whole and universal life insurance products from Erie Family Life* and help you choose a product that’s right for your stage of life—and your budget.
So next time you hear that big “Congratulations!” give McELHINNY INSURANCE a call. We’ll help you keep you and your loved ones protected. 412-650-5700.
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