Your Home for Affordable Life Insurance
Questions? Speak with an Independent Life Insurance Agent @ (205) 578-2097
Why Work With an Independent Life Insurance Agent?
Here at AFS, we do not work for any insurance company, we work for you! As an independent life insurance agent, rather than working for one company, we have access to over 40 of the most trusted, A+ rated companies for life insurance in the country today. For you, that means better premiums, better underwriting, more coverage, and better value. So take some time and educate yourself on your protection needs. Feel free to shoot us a phone call, email, or text to ask any questions you might have concerning your coverage, or how much insurance you might need. Once you’ve read and educated yourself, resolve to put a plan in place.
“Don’t trust something so valuable as your family’s life insurance to an online mega brokerage. Our service is individualized to suit your needs to ensure that your family can have the very best policy for the absolute best premium.”
What is life insurance and how does it work?
The history of life insurance goes back for centuries but the need is still the same—there are those in your life who’s lives would be severely affected if you weren’t there. It could be your spouse, your children, or your elderly parents. It may even be a business owner asking the question, “what happens to my business and employees if I weren’t here?” Life insurance creates an immediate sum of money to pay your mortgage, debts, college for your children, and even replace lost retirement income for your spouse. These are all great reasons why you would want to objectively seek coverage. But there is also a deep seeded, emotional appeal to protecting your loved ones as well as we all seek security and peace of mind. There is nothing that provides more peace of mind than knowing your loved ones will be ok when life happens.
The process is simple. You agree to pay a premium to a life insurance company and in return, they pay a sum of money to your dependents if you’re not there. It’s that simple. There are numerous types of policies available, each with different benefits that will appeal to various people. But don’t get too lost in the weeds at this point though. You know that you have a need and that’s the best place to start. Don’t worry, we’ll walk you through what works best for you and your need based on your budget so that you’re completely happy and satisfied with what you have. Fair enough?
Do I Need Life Insurance?
Not everyone needs protection. If you’re young with no debts and no one who depends on you, you can probably wait until later to get it. But if you’re a husband or wife with children and especially if you’re the sole income-earner in the family, it is crucially important for you to have something in place. Every day there are families who are left with few options for survival with the loss of the main breadwinner. Crowdfunding sites are full of requests for people who don’t have enough money to bury family members much less pay off a mortgage or provide a replacement of income to ensure the family has enough to survive.
How Much Do I Need?
There are a number of different formulas available to determine how much insurance one needs. Remember that your coverage is a replacement for your income. So the most simplistic approach is to provide your dependents with a multiple of your income. Most financial advisers will agree that you need to consider replacing at least 10-12 times your current annual income. If you have debts such as college loans or a mortgage, you might want to add that into the total amount.
How Long Should I Have It?
For one reason or another, you’re going to need life insurance for the better part of your life. Even after your children leave the nest, you’ll still need adequate coverage to protect your spouse for retirement while you’re still working and saving.
Your budget will probably be the determining factor in how long of a policy you start with. You can have term insurance in place for as little as ten years. Other permanent life insurance policies can be built to last all the way through age 120 believe it or not. You can read more on various types of life insurance, here.