The birth of a child is a happy time filled with new responsibilities. Purchasing life insurance through DJ Kauffman Agency, serving Hutchinson, KS, is one way parents can provide for their family’s future.<\/p>\n
One rule of thumb is to consider what a family needs to survive on if income ceased. All the big and little expenses should be put down in a list. Parents sometimes factor in unpaid work in the home as well, because there are costs to replace childcare and homemaking. A popular method uses yearly income times a certain number of years. Your insurance agent can customize this rough estimate by including debt, savings, and number of little ones.<\/p>\n
Term life insurance provides coverage for a specific period of time, such as 20 or 30 years. Permanent policies provide coverage for your entire life and have the ability to accumulate cash value. Some parents opt to "layer" the two policies by buying term for the "bread and butter" needs and some level of permanent coverage for long-term needs such as estate taxes and care. There are advantages to each type of policy. At the end of the day it comes down to your family’s needs and what you feel comfortable with.<\/p>\n
Children aren’t able to handle financial assets. New parents often put a spouse first and a trust or custodian second. Updating the beneficiary designation is something you shouldn’t let slip your mind after the birth of your child. (Having an appropriate will with a named guardian is similarly important.)<\/p>\n
As a new parent, you want to do as much as possible to help your child in life. Talk to your insurance agent at DJ Kauffman Agency, serving Hutchinson, KS, for guidance today.<\/p>\n","protected":false},"excerpt":{"rendered":"
The birth of a child is a happy time filled with new responsibilities. Purchasing life insurance through DJ Kauffman Agency, serving Hutchinson, KS, is one way parents can provide for their family’s future. Deciding How Much Coverage Fits One rule of thumb is to consider what a family needs to survive on if income ceased. […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[10,20,24,25,26],"class_list":["post-176","post","type-post","status-publish","format-standard","hentry","category-life-insurance","tag-dj-kauffman-agency","tag-hutchinson","tag-insurance","tag-ks","tag-life"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t