If you have a recent addition to the family, you should consider updating your life insurance coverage. Without it, your family might be exposed to financial risk in the event of your passing. Ebert Agency has been providing quality products to their Foley, AL, clientele for over 80 years; below they’ve explained why life insurance is an important addition to your new family’s coverage.

What Triggers the Need for Life Insurance?

Along with welcoming a baby into your home, there’s also a new bevy of responsibility. A dependent child relies on the family breadwinner and caretaker for their well-being, including covering the cost of medical expenses, education, and quality of life. If either guardian passes, a life insurance policy will generally provide for the loss of income or care. 

Why Should Both Parents Have Policies?

While one or both parents might be the breadwinners of the family, both provide dependents with a certain quality of life. For this reason, both parents or guardians should have life insurance policies. If a stay-at-home parent passes away, a policy will cover the cost of dependent care for the future. 

How Much Life Insurance Do You Need?

While this is a topic that should be discussed with your insurance company or agent, the amount of coverage you need will be based on your specific needs, lifestyle, or quality of life you want to maintain for your family if someone passes away. For instance, many policyowners want to provide enough coverage for mortgage payments, medical coverage, and education expenses.

If you’ve had a recent life change, such as welcoming a new child into the family, speak with your insurance company. Ebert Agency is a family-owned agency with three generations of experience. They pride themselves on providing their clients with the latest products on the market at the lowest rates. Call their qualified agents today at (251) 943-2281 or visit their website to learn more about their offerings.