ERIE, Pa., Sept. 21, 2020 /PRNewswire/ -- Major life
changes like getting married, starting a family or buying a house
are often when people start thinking about buying life insurance.
It can be a process that may sound intimidating or confusing – but
it's also very important.
During this Life Insurance Awareness Month, Erie
Insurance shares five points to discuss with your agent when
buying life insurance for the first time.
- Understand who (or what) you are protecting. While
anyone experiencing a significant life event like getting married
or starting a family often recognizes the need for life insurance,
others may not realize they could benefit from it as well. For
instance, stay-at-home parents and student loan
cosigners could have a definite need for life insurance.
- Only buy the life insurance plan you can
afford. Many people are surprised at how much life
insurance they really need to protect the people and things they
love most – but they are also surprised at how affordable it can
be. If you cannot find a policy that fits in your budget, it's a
mistake to forgo any coverage at all. Something is definitely
better than nothing.
- Think through your
beneficiaries. A life insurance
beneficiary is the person or entity you name in your life
policy to receive funds in the event of your passing. Your
beneficiary can be a person, business, trust, charity or even your
church. And, you can have more than one. It's important to make
sure you think through who your beneficiaries are and if any
proceeds meant to benefit a minor should be held in trust.
- Buy from a financially sound company. You want
the backing of a financially strong insurer if you or someone you
love needs to call on the life insurance policy. A.M. Best, the
largest and longest-established company devoted to issuing in-depth
reports and financial strength ratings about insurance
organizations, gave Erie Family Life Insurance Company a rating of
A (Excellent).
- Consider current and future needs. Don't
just consider your current lifestyle, keep in mind your future
needs and what those could include (a spouse, children or
business). By taking in these considerations today, you're
investing in the security of your future. Life insurance is less
expensive than most people think—and that's especially true when
you're younger.
A knowledgeable and professional insurance agent can
offer trusted guidance when it comes to finding the right life
insurance protection at the right price. Life insurance with Erie
Family Life offers you the right coverage with flexible options,
helping you to build a policy now that is adaptable later. Find an
ERIE agent near you to learn more
about life insurance coverage from Erie Family Life and to
start the conversation.
Erie Insurance Group
According to A.M. Best
Company, Erie Insurance Group, based in Erie,
Pennsylvania, is the
11th largest homeowners insurer and 12th
largest automobile insurer in the United States based on
direct premiums written and the 16th largest
property/casualty insurer in the United States based on
total lines net premium written. The Group, rated A+
(Superior) by A.M. Best Company, has more than 6 million
policies in force and operates in 12 states and the District
of Columbia. Erie Family Life
Insurance Company is rated A (Excellent) by A.M. Best Company. Life
insurance policies not written in New
York state. Erie Insurance Group is a FORTUNE 500
company.
News releases and more information about Erie Insurance
Group are available at www.erieinsurance.com.
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SOURCE Erie Insurance Group