Life Insurance in Macungie, PA
Following the death of a family member or loved one, related financial obligations may add significant monetary stress to the already difficult grieving process. Fortunately, the right life insurance policy can provide those left behind with a reprieve from the fiscal implications of these difficult times while also potentially providing for their future prosperity.
How Life Insurance Works
Like many types of insurance, life insurance establishes a contractual agreement between a policyholder and their insurance company. By selecting a policy and maintaining coverage through regular premium payments, beneficiaries may retain access to critical funds and resources following the passing of an insured.
How Many Life Insurance Policies Can a Person Have?
There is typically no limit to the number of life insurance policies a person can have. In fact, purchasing multiple forms of coverage may be advisable, as there are many types of life insurance and different policies may provide varying benefits. For example, term life insurance may offer coverage during a limited period; therefore, it’s often appropriate for parents who want to ensure their children will be provided for until they come of age. On the other hand, the ongoing coverage of whole life insurance may also include financial opportunities to accrue value over time, doubling as an additional form of savings as a policyholder approaches retirement age. 
How Much Life Insurance Do I Need?
Exact life insurance needs may vary significantly depending on a person’s unique circumstances. When assessing coverage needs and acquiring appropriate policies, individuals and families should consider their outstanding debts, alternative financial assets and savings, and anticipated future expenses, such as college tuition and childcare costs.
How Much Life Insurance Do I Need at 60?
Everyone’s life insurance needs are different, even at the same age. While some people may have paid off most of their debts by age 60, others may still need to account for potential mortgage payments and other loans. Similarly, many parents may be empty nesters by age 60, while others might still need to be able to provide for their children.
Get the Right Coverage
At the Valera Agency, our dedicated staff is well-equipped to help individuals and their families acquire and maintain life insurance that can secure their financial stability and prospects. We can help aspiring policyholders explore various options, including senior life insurance, mortgage protection insurance and critical illness insurance. Contact us today to learn more or to get a personalized life insurance quote.