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STORM SEASON
Important Note:

June through November our agency may become prohibited from binding coverage should a “Tropical Disturbance” enter the Gulf of Mexico or Caribbean Sea.

In these cases we may be unable to bind new coverage quoted in open proposals until the storm leaves our area and our binding authority has been restored.

Please arrange your coverage protection early to avoid this type of delay. While we regret any inconvenience, the carriers impose these restrictions on all agencies.

Are You a Parent? 5 Things to Know About Life Insurance Now

Parents want the best for their children. Creating a future for kids takes effort and for single parents, the responsibilities increase. Should the unthinkable happen, children have needs. Life insurance plans alleviate anxiety for the future but single parents have more to think about when shopping insurance policies. Coverage, pricing, and more all change for single parents. Eliminate uncertainty. Gathering the right answers beforehand helps determine the right life insurance policy. For single parents making the decision about life insurance these pieces of information help determine the coverage amounts and the right policy choice:

1. Speak to Caregivers

The first thing is determining caregiver options for children. Selecting a legal guardian creates a definitive plan for the care of children. Capabilities, assets, and opportunities vary per caregiver situation. Caregivers may be peers to parents and anyone in-between. The right policy covers expenses realistic to each case. Speak to caregivers early and learn to plan for later.

2. Think about the Children

The right policy includes planning for child age and personal needs. Parents of younger children may wish for more coverage to cover longer lengths of time. Parents of older children may have school or college expenses to plan for. Many policies may be amended, adding coverage later on.

3. Understand the Finances

The right policy extends coverage beyond immediate costs, closing out personal debts as well. Things will already be difficult for the children, adding debt and expenses only serve to complicate things. Organizing personal debts beforehand and finding sufficient coverage helps children cope with their immediate situation, and the future moving forward.

4. Add Everything Together

Experts recommend multiplying annual salary by 7 to create base coverage amounts. This means life insurance policy coverage for a single parent with an income of $40,000 begins at $280,000 and grows from there. Caregiver options, future plans, and personal debts additionally factor in determining the right amount of life insurance coverage. This may sound like a large number, but life insurance policies are affordable through the right insurance carrier.

5. Shopping for Life Insurance

It is easy to overestimate the cost of life insurance. Policy amounts sound large yet policies are often much more affordable than first suspected. Planning a life insurance policy around children means choosing policies for the right amount of time. For parents of children leaving the home in several years, long policies may be unnecessary. Coverage for the proper amount of time helps limit overall cost. With the right planning and forethought, life insurance policies can cost as low as $50/month. Speak to an agent today about finding the right life insurance coverage. Having a plan for the future helps keep the focus on today.

Insurance topics have bearing on finances, decisions, and healthy living just to name a few. Have any topics to suggest? Send any topic suggestions or insurance-related questions on over!