How much life insurance do I need?

When it comes to life insurance, many things need to be factored in not the least of which is how much money you can afford to pay per month. How much insurance depends on several other factors that the knowledgeable agents at Wichalonis Insurance Agency, in Cumming, GA will be happy to discuss with you. They know the right questions to ask so that you can get all the coverage you need at a price you can afford.

If you have a family, you will need to have enough life insurance so that they can maintain their current lifestyle if you are gone. How long they need to be maintained should also be considered. Your current yearly salary is one of the factors and the number of years is the other. If it is five years then it is five times your yearly salary. The last thing your family needs if you are gone is to worry about making ends meet.

You also need to have enough life insurance to clear any debt that you may have. If you have a large mortgage, you may want to add that amount to the figure. You also need to consider your funeral and burial expenses. If you don’t have a family to worry about then you won’t need to consider maintaining anyone but having enough life insurance to cover your final expenses will save your relatives from being forced to come up with the money themselves.

As you can see, quite a few things need to be taken into account when deciding how much life insurance you need. If you live in Cummings, GA and the surrounding area why not get the experts at Wichalonis Insurance Agency to help you to figure out how much life insurance you need in order for you to have peace of mind.

What to Do about Home Insurance When You Pay Off Your Home

Your mortgage company won’t require home insurance for your Cumming, GA home once it is paid off. This doesn’t mean you should go without insurance. Instead, make some changes to your policy. The home is one of the largest purchases you will ever make, so you want to make sure that you protect it. Home insurance doesn’t just protect the structure but also has protection for your possessions and any potential lawsuits. Even if it isn’t required anymore, you could be saving thousands of dollars instead of having to pay for damages out of pocket. You don’t want a fire or another disaster to destroy everything you have worked for.

Once you have paid off your home, you may need to contact your insurer if you have been paying through an escrow account. This way, you can be sure the bills will get sent to you. Also, you may need to change your automatic payments. After this, you will need to decide if you want to make changes to your current coverage. Since you are no longer required to have certain coverage, a stipulation to your mortgage now is the best time to talk to an agent at Wichalonis Insurance Agency. You can make adjustments to your coverage to save you money or better serve the needs of your home and you. You also need to make sure your mortgage lender is not named on the insurance policy anymore. They no longer have a claim to your home, so they shouldn’t be given any payout that could come from a covered loss. If you don’t remove the name, it could hold up any claims process in the future. You may also qualify for some other discounts once you pay off your home.

Contact Wichalonis Insurance Agency serving Cumming, GA to get a quote on home insurance.