There are many different types of insurance policies, and your exact needs for these policies will vary depending on where you are in your life, and what your responsibilities are. Younger adults who are just starting out on their own don’t necessarily think of life insurance as a top priority, but there are still situations when it should be considered, for example those who have asked others to cosign on loans may want a small term life insurance policy that will last while they are in school and becoming established in their careers. Long term care policies can be looked at in much the same way, because even a temporary disability can cut into your income and lead to a person getting behind on bills.
Young families often choose to invest in a life insurance policy as an extra way to secure the immediate future of their own families, for example, they may choose a 20 year term policy so they can make sure their family is covered while their kids are growing up in their home.
Those who are approaching middle age, or have even been there for a while, often look into insurance policies that can become a component of their retirement planning process. These people may want to choose whole life policies that can build cash value that is often useful during the later years. Long term care insurance at this stage of life is a protection that can cover needs such as private nursing or other assisted living needs that aren’t covered by Medicare.
There are no sure things, in any of the life stages, and if someone is depending on your income or your ability to care for yourself or others, it’s a good idea to talk about both life insurance and long term care insurance. In Culver City, California ISU Wissink Insurance has been helping individuals, families, and businesses with their insurance needs for the past six decades. As an independent broker we have built strong relationships with several insurance providers and with our extensive knowledge of the products available we are in a position to match you with the insurance policies that will work best for you. To discuss what type of role these insurance policies should play in your life, contact ISU Wissink Insurance today.