In the past few months, more Americans have been beginning to think about life insurance and considering whether their current policies are adequate. If you haven’t updated your life insurance policy in a few years, it’s important to get everything hammered out in case the unexpected should occur to protect your family and property. But navigating the difficult waters of life insurance policies can be a challenge for those unfamiliar with how a life insurance company works.


In this post, our Burnsville personal insurance experts at Value Plus Insurance will break down some of the most important information about life insurance for policyholders. Read on to learn all about life insurance and then give us a call to update yours.

Types of Life Insurance Policies

One of the most common ways to obtain life insurance is to purchase a policy through your employer. The problem with this type of life insurance policy is that it’s limited to your employment and expires as soon as you leave the company. Facing an uncertain job market, many Minnesota and Wisconsin residents are starting to look to the certainty of a private life insurance policy.


These are the main types of life insurance policy available:


●        Whole life insurance- Whole life insurance offers level premiums and lasts throughout your lifetime.

●        Universal life insurance- Offers a flexible way to pay on permanent life insurance.

●        Variable life insurance- Includes an investment opportunity.

●        Term life insurance- Covers a policyholder during a stated term, at the end of which the policy ends.

Calculating Your Life Insurance Needs

When deciding how much life insurance coverage you need, there are a number of factors to consider. First, a life insurance policy should help pay off final expenses, medical bills, and debts. It should also help care for loved ones left behind who depend on you for support. An experienced life insurance expert can help you calculate your needs by considering your age, marital status, household income, retirement savings, and debt.


In addition to paying out to survivors, some policies can include options to pay for living benefits including long-term care. This can help ease the financial burden on your family later in life.

Call the Life Insurance Specialists You Can Trust

Having a life insurance policy to protect your loved ones has never been more important. When it comes to choosing your life insurance policy and making sure your family is provided for, the process can be difficult to understand. That’s why it’s important to have the support of experienced life insurance agents on your side as you make these important decisions.


To learn more about life insurance policies for your loved ones, connect with our experts at Value Plus Life Insurance by calling 952-435-0550. You can also contact us on the web for a free insurance quote today.