Life Insurance

What Does Life Insurance Really Cover?

Posted on by AgentInsure

Life insurance may be one of those topics many people avoid. However, it can provide great peace of mind when an individual considers the needs of their family members. The beauty of a life insurance policy is that an individual can arrange it to meet the specific needs they feel require special attention. Are there minor children to think of? What about debt resolution? Is there a desire for a charitable donation? At Fuhriman Insurance Agency in the Boise, ID area we can help you make these decisions by providing information and life insurance policies that meet the needs of both you and your family. You’ll feel better just having the knowledge you need. From there you can make your choices and know that you’ve prepared your family for any eventuality. If you already have life insurance, it also pays to review it regularly. Term or universal policies may not keep up with the changes in your life. Come see us today and we’ll help you work it all out.

Here are a few questions to ask yourself:

  • Is my life insurance policy up to date?
  • Does it reflect the needs of my growing family?
  • Does it reflect changes due to divorce as well?
  • Are my debts like retail debt, mortgage, and medical bills accounted for, and would my policy cover these?
  • Have I moved or changed work places?
  • Have I already made final arrangements, or is this an expense my family will have to consider?
  • Do I want term or universal life insurance?
  • What other arrangements can I make with my life insurance policy?

We’re pleased to serve the Boise, ID area and our agents at Fuhriman Insurance Agency have the resources to assist you in updating your policy. Call or visit today.

Does Everyone Need Life Insurance?

Posted on by AgentInsure

Does everyone need life insurance, a question that is often asked. The short answer to this question is no. Not everyone needs to have a life insurance policy. For those that live in the Boise, ID area, the agents with Fuhriman Insurance Agency can help.

The reason that not all people need a life insurance policy is that not all people have someone that needs money or that is going to need to be taken care of when they pass. Those that do not have children, do not have family that will inherit a large amount of debt, or that have already paid their final expenses and will not need the policy to pay for them do not benefit much from a life insurance policy.

If you have children however that are either under the age of 18 or that are going to inherit your debt or have to pay for final expenses, you can certainly benefit from a policy. Similarly, if you have family members that are going to inherit your debt or have to pay expenses you may want a policy. Life insurance does not benefit only the friends and family of the deceased, however.

If you take out a policy that has partial payouts in the event of serious injury you may be able to benefit from your death. If you have a desk job that is a low risk you may not want to spend the money each month on a policy that you will likely not use. It is always helpful to have a professional answer any questions that you may have and for those in the Boise ID area, the agents with Fuhriman Insurance Agency can help answer your questions and get your policy sorted out if you truly need and want one.  

3 Important Things to Consider When Buying Life Insurance

Posted on by AgentInsure

Picking the right life insurance coverage can be a daunting project. Coverage options are varied and have lots of moving parts. It can be tempting to pick the least expensive coverage and forget about it, but it’s worth taking the time to understand your options and how they can impact your dependents after your death. Broken down into the simplest terms, there are three primary things to consider when buying life insurance.

1) When to Buy: The younger and healthier you are, the lower your premiums are likely to be. The downside is that you may end up paying more even with lower premiums with the extended period of time paying for them. If you plan on building a family, weight the benefit of a lower premium with the time you anticipate paying that premium to find the sweet spot.

2) How Much to Buy: The total value of your insurance coverage can be determined in two basic ways, needs-based or income-replacement. Needs-based takes into account the unique requirements of your beneficiaries while income-replacement is a simple calculation based on your annual income. Needs-based can provide more personalized solutions, but it does take more effort to calculate.

3) What to Buy: There are different types of life insurance policies available, the most common being term and cash-value (or permanent). Most go with term life insurance because it’s simple to understand and often has lower premiums – you simply pick your coverage amount and the duration coverage is in effect. Cash-value insurance can be a better option for some, but is a complex subject. It’s best to consult a professional to help you understand the way this investment-style insurance policy functions.

To help you navigate life insurance options and make the right decision for you and your family, contact Fuhriman Insurance Agency today for an in-depth discussion of their coverage options and a quote that suits your budget.