Life insurance may be one of the most important decisions you ever make. Your loved ones and family are counting on you to get it right. To get it right, you need to know what questions to ask when choosing. At Hinman & Associates Insurance in Reno, NV, our team of independent insurance experts will help you to get coverage that will protect those who are counting on you. 

When is the best time to purchase life insurance?

Life insurance is unique when it comes to deciding when to purchase it. It will be less expensive if you purchase it when you are young. However, when you are young, you are often the least able to afford it and have the least use for it. You do need to make sure that if you are purchasing term insurance, that the term lasts through the years when you will need it most. 

How much life insurance is enough?

There is not one answer to this question. Each individual will have different needs. You need to figure how long it will need to provide support, how old your dependents are, and how much you now provide per year. Multiplying your annual income by the number of years is the simplest formula, but it may not provide complete or adequate coverage. Experts suggest at least 10 years of income. 

Who can be the beneficiary?

You can choose to have one beneficiary or multiple people. Keep in mind that if you are choosing a child, they will need to wait to collect the benefit until they are of legal age in the state where they reside, 

Contact Hinman & Associates Insurance in Reno, NV for all your life insurance needs. Call, email, or stop by to get your questions answered.