I already have a health insurance policy. Should I still buy a life insurance policy?

Getting the right insurance policies is essential to protecting your household’s finances in unexpected situations. Even if you’re completely healthy, it’s now federally mandated that you have a health insurance policy. After shelling out money for that, you may feel like you don’t really need a life insurance policy, too. However, the two policies cover very different situations, and many people will want to have them both. Learn how you will benefit from having insurance before you search for and compare quotes online.

Key features of health insurance

  • May cover routine preventative care, like an annual physical
  • May cover some or all of the cost of medical treatment, depending on the type of treatment and whether you have reached your annual deductible yet
  • Stops providing insurance benefits at the time of your death

Key features of life insurance

  • Provides a set benefit amount to your beneficiary at the time of your death
  • Money can be used for funeral costs, estate fees, and inheritances
  • Allows peace of mind because you know that your spouse and dependents will receive money if you die and can no longer earn income

Compare quotes on a policy today

Your family may not be able to afford to skip out on insuring your life. If your family relies on your income, it’s usually a good choice to take out an insurance policy. Even if you’re a stay-at-home parent, insurance is important because your surviving spouse will have more expenses if you are no longer there to take care of the children and household. Gather quotes for life insurance in Plano, TX today so you can compare costs and take out a policy to protect your family’s finances.