Ankeny Life Insurance

How Much Coverage Do You Really Need?

While many will agree that Life Insurance in Ankeny, IA is a necessity, some struggle to determine just how much coverage they should buy. By answering the following questions, you may be able to estimate the right amount to meet your family’s needs.

  • How much debt do you owe? You should include your mortgage, car loans, credit cards, and medical bills into this sum to ensure your creditors do not hassle your loved ones.
  • Are you married? Does your spouse depend on your income? Many middle class families require both adults to work in order to pay all the bills on time.
  • Do you have children? How many more years will they be dependent upon you? It can cost thousands of dollars a year to raise a child even with just the bare essentials.
  • Do you want to allow your mate to retire? What are his or her retirement plans?
  • Do you want to provide a college fund for your kids?

Term Life Insurance or Whole Life Insurance?

The perfect illustration would be renting a home vs. owning a home. Term Insurance is like renting, whereas Whole Insurance is like owning. When renting it can sometimes be cheaper than owning, but you have no financial benefits when the term is up even after you have paid on it for years. You also have no guarantee that when that term is up that you will be healthy enough to qualify for a new term policy. When you own your home or whole life policy, you may be making larger payments. However, in the long run you are building equity or cash value.

Term Life Insurance Basics:

  • Coverage for a “term” or period of your life.
  • Lower premiums for higher coverage.
  • Rates can change after specific terms expire.
  • No equity – cannot be used as cash value.

Whole Life Insurance Basics:

  • Exactly like it says – permanent, not for a specific period.
  • Protection carries with you your whole life.
  • Can build equity and have cash value.
  • Higher premiums than term life, but can be more valuable in the long run.

Doubleday Insurance Agency, Inc: Your Insurance Experts

Do you have Iowa life insurance? What are you waiting for? Your life could be cut short tomorrow by a traffic accident or other unfortunate event. You can plan for your family’s future needs now by purchasing Ankeny Term Life Insurance policy today.

Whether you want to "rent" or "own," Doubleday Insurance Agency, Inc is dedicated to matching your needs to the most comprehensive and affordable coverages available on the market today.

We can help you find viable policies for:

To further discuss your Ankeny Whole Life Insurance solutions – your needs, your concerns, or your goals – please feel free to call and speak to one of our knowledgeable agents at your earliest convenience.

Whatever your insurance needs may be, we can help meet them. We want you protected.

Call Doubleday Insurance Agency, Inc. today at 1-515-964-0637.