Tag: life

You may expect to live a long life, but what if something happened to you tomorrow? Do you know what would happen to your family or loved ones? If you’re self-employed, these are important questions to think through. If your business were to stop generating income the moment something happened to you, that could seriously impact your household’s finances. In situations like this, life insurance can make a real difference.

The Washwick Agency, serving Bethlehem, NH, can help you find a life insurance policy that fits your needs. Life insurance can help your family cover mortgage payments, bills, and tuition if you were to pass away. Here’s what you need to know.

What Is Life Insurance?

Life insurance is a type of coverage designed to pay out a death benefit when you pass away. It works as a contract in which you pay a premium to keep the policy active. As long as the policy is in force at the time of your death, your insurance company pays the death benefit to your named beneficiaries.

Why Should You Consider Life Insurance If You’re Self-Employed?

Many people get life insurance through an employer, so if you’re self-employed, purchasing your own policy can help ensure you have that same level of protection. If your family depends on the income your business generates, life insurance can help them manage bills and finances if anything were to happen to you.

How Can You Get Life Insurance?

You can get started by contacting an independent insurance agent, who can help you find a policy that fits your budget. At The Washwick Agency, serving Bethlehem, NH, we’re here to help. Call today.

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There’s a common misconception that life insurance is only for parents and their kids. In reality, life insurance can benefit nearly everyone.

In particular, life insurance can be a valuable tool for grandchildren. Here’s your inside look at life insurance payouts to grandkids from The Washwick Agency.

Why Life Insurance Makes Sense for People of Every Age

Though your grandchildren probably can’t open a checking account or drive yet, they will one day, and it’s no secret that the economy continues to grow more challenging over time.

Why not give your grandkids the gift of a life insurance payout?

You can name your grandkids as beneficiaries so they receive your life insurance proceeds after you pass away. You can even have those funds placed into a trust that becomes available to them once they reach adulthood.

Give the Gift of Life Insurance

In addition to naming grandchildren as beneficiaries, you can also give them the gift of their own life insurance policy. Ideally, doing both can give your grandkids a stronger financial foundation as they grow.

Purchasing a life insurance policy in your grandson or granddaughter’s name can offer them peace of mind and financial confidence as they move into adulthood.

If you have any questions about starting a life insurance policy for a grandchild in Bethlehem, NH, don’t hesitate to ask our team.

As an example, our team can walk you through the details of whole life insurance policies. These policies are designed to provide coverage for the policyholder’s entire lifetime, making them a strong option for grandchildren.

The Washwick Agency Is a Call Away

Are you looking for life insurance in Bethlehem, NH? If so, we’ve got you covered. Dial 603-288-0111 to learn more about life insurance policies for locals.

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Life insurance is not a set it and forget it decision. Major changes like marriage, having children, buying a home, or changing jobs can all affect how much coverage you need and who should be listed as beneficiaries. Reviewing your policy after these events helps to ensure that it still fits your life.

Reviewing Coverage Amounts and Term Length

Over time, your financial responsibilities may grow or shrink. A policy that once felt sufficient may no longer cover outstanding debts, income replacement, or future expenses like education. For term policies, reviewing how many years remain can help you plan for renewal or replacement before coverage ends.

Beneficiary Updates Matter

Beneficiary designations do not update automatically. Divorce, remarriage, or the loss of a loved one can leave outdated information on file. Reviewing your policy ensures benefits go to the people you intend and helps avoid delays or disputes during a difficult time.

Changes in Health and Insurance Options

Your health and the insurance market can change over time. Improvements in health may qualify you for better rates, while new products or riders may offer more flexible options. Periodic reviews help you understand whether your current policy is still competitive.

How Often a Review Makes Sense

Many advisors recommend reviewing your life insurance policy every few years, even if nothing major has changed. A regular check in helps catch small issues before they become big problems and keeps your coverage aligned with your long-term goals.

At The Washwick Agency, We’re Here To Serve Bethlehem, NH

If you’re looking for life insurance, the team at The Washwick Agency, serving Bethlehem, NH, is here to help. Reach out to us today to set up an appointment with one of our agents to learn more.

Some people believe that buying life insurance in Bethlehem, NH, is a one-and-done deal. However, nothing could be further from the truth. When you purchase a life insurance policy, you should review it periodically. But when should you do this? The Washwick Agency can help you review your life insurance needs at appropriate times to stay current.

Events Requiring a Life Insurance Review

If you buy life insurance when you are young, your circumstances often change. Certain life events necessitate a review of your policies, beneficiaries and the payouts. Experts recommend reviewing your policies and beneficiaries at least once a year, yet many people do not. If you don’t perform an annual review, consider looking over your policies when one of these life events occurs:

• Getting married or divorced
• Having or adopting a child
• Buying a home
• Taking on significant debt
• Significant job or income changes
• Improvements or declines in health

Less common events involve becoming a guardian or having a family member become financially dependent on you.

Why You Need to Review

Reviewing your life insurance policies accomplishes several tasks. Depending on the circumstances, you may need to change your beneficiaries. You also need to ensure that your coverage amount aligns with your financial obligations. You may want to adjust benefits upward or downward depending on your circumstances.

Reviewing your coverage could also make you more aware of a better or less expensive policy through another insurance carrier. Your review may lead you to add another life insurance policy or possibly change to a different type. Older individuals often change to term policies to cover death expenses.

Buying life insurance is easier than you think when you work with The Washwick Agency, serving Bethlehem, NH. Contact our office to review your life insurance options.