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Frequently Asked Questions

When is it time to update my coverage?

Insurance is about protecting what’s important to you, both personal and business, against the unexpected. Anytime you have significant events or changes in your life, it's time to think about reviewing and updating your coverage. Here are some examples:


      • A change in marital status
      • A new baby
      • New drivers in your household
      • Kids going away to college
      • A new job or starting a home business
      • Changes in your income
      • Paying off a car loan
      • Buying a home
      • Moving to a new apartment
      • Home improvements
      • Approaching retirement
      • Purchasing jewelry, antiques, computer equipment or other expensive items

For more details, print or download a copy of our Life Stages and Events Checklist. Fax, email or mail a completed checklist to us, and we'll be happy to help to you evaluate your insurance and financial needs.

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Financial Insurance

Do I need a life insurance policy?

Almost everyone can benefit from life insurance. It is the best way to provide financial assistance to your survivors. Life insurance serves several purposes.

      • It can provide mortgage protection.
      • It serves as replacement for income lost by a family wage earner.
      • It can help pay for services provided to family members.

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How much life insurance do I need?

Since the goal generally is to provide for loved ones over a period of time, a common rule is that each provider in the household should have at least ten times their annual salary or annual contribution value. Any outstanding mortgage balance or other large debts should also be considered in your calculation; however, this amount should be in addition to the amount purchased to provide income protection.

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How often should I review my life insurance needs?

As your life changes, your needs do, too. A common recommendation is that you should review life insurance protection at least every five years or sooner if a major life event such as marriage, divorce, a new child, home purchase, new job, starting a business or retirement.

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Why have I been hearing so much about long-term care insurance?

People are discovering that long-term care insurance can help pay for extended care without exhausting personal finances. As the general population gets older, long-term care (including nursing home and in-home care) has become a costly necessity for many families. Without long-term care insurance, families can find their homes, savings, and other assets in jeopardy as they struggle to pay the costs. By planning and considering options to help pay for care, these situations can be avoided.

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