Malden Solutions offers individual life insurance and understands that choosing life insurance can be daunting. That’s why we’ll provide your employees with a full-service insurance broker that will help them make the right choice for not only themselves but their family members. Becoming a new parent is a beautiful milestone. Parents will do anything to protect their children. One way to do so is through life insurance. We can help give you the tools to give your family financial security and help them prepare for the challenging, unexpected parts about life. Are you a new parent? Are any of your employees currently new parents? These life insurance tips will benefit new families. Keep reading!
Procrastination is Problematic
The earlier you get life insurance, the better. Age is a significant factor regarding the cost of life insurance. The younger you are, it’s a high probability that you can take advantage of a lower rate. Life insurance can also help offset financial stressors such as daycare. Even if you don’t have a family, having a plan at a young age is crucial to help save money and prepare for the unexpected.
Explore Your Options
Term life insurance is less expensive and is only set in place for a specific “term”, or amount of time. The premium stays set in stone for that period. It’s an ideal option if you’re a young parent who wants cost-effective coverage that can help pay off mortgages, loans, or any other debts if the unexpected were to happen.
Whole life insurance is secure for your entire life. Premiums don’t change even as your health conditions change. Universal life insurance stays set for the entirety of your life as well but has the option of you being able to change your premiums as life circumstances change. These type of plans cost more but last longer and you can dip into them for an entire lifetime if need be. As circumstances change in your life, you can also convert term insurance to whole life insurance.
Both You and Your Spouse Should Have Coverage
Attempting to get through life without your spouse is not only challenging emotionally, but it can be tough financially, especially when children are involved. Having more than enough coverage can help the surviving spouse take care of the mortgage and help with expenses such as college. Life insurance policies can also help children with finances if something were to happen to both parents. Make sure to name primary and secondary beneficiaries when picking a plan.
Partner with Malden Solutions Today
Malden Solutions has a wealth of expertise in providing employer insurance solutions, HR solutions, and individual insurance solutions to businesses both big and small. Our team of seasoned professionals can help you navigate the rapidly-changing world of insurance with ease. We partner with businesses and individuals throughout the country to provide our dedicated services for employee benefits but also work within our surrounding communities in Maryland, Northern Virginia, and Washington, D.C. Contact us today to learn more about how we can provide effective, dynamic solutions for your business. Stay connected with us on Twitter,Facebook, and Linkedin.