Top 7 Factors to Consider When Selecting Life Insurance Plans

Everyone should have a life insurance plan. But despite this, recent reports have suggested that almost 25% of people don't have one.

Are you one of them? If so, you should look around at your different options for insurance plans. You should then go through the process of selecting life insurance plans that would be a good fit for you and your family.

Prior to selecting one of the many life insurance plans, though, you should make sure that you have the right one picked out. It'll guarantee that you're able to get a plan that will provide you with all the coverage you'll need. For example, a guide for buying life insurance after age 70 provides examples of what would be suitable for those getting insurance later on in life.

Here are seven important factors people should always consider when selecting life insurance plans.

1. Type

When you're working your way through the process of selecting life insurance plans, the very first thing you'll want to consider is which type of life insurance you want. There are a few options you can choose from.

The types of life insurance include:

  • Term life insurance

  • Whole life insurance

  • Universal life insurance

  • Variable life insurance

The type of life insurance plan that you pick out is going to depend on everything from your age and your health to your financial situation and your long-term life insurance needs. It's why you should read up on each of these life insurance options to see what they can offer to you.

2. Provider

Once you know which type of life insurance plan you would like, the next thing you'll need to do is find a provider you can trust. It shouldn't be too difficult to find some options. There are thousands of them throughout North America.

Your goal should be to find a life insurance provider that you know you can trust. They should have a wealth of experience within the industry and lots of life insurance options for you to choose from.

After you're done reading online reviews for a life insurance provider, you should also find that they have a wonderful reputation. You want to have a company like Shelter Bay Financial on your side.

3. Coverage

There are some life insurance plans that are going to set you up with very basic coverage. They'll provide the bare necessities for your beneficiaries in the event of your death.

However, when you're sifting through the life insurance quotes by age, you'll see other life insurance plans that will go above and beyond when it comes to providing you with coverage. They'll ensure that your beneficiaries will be well taken care of if anything ever happens to you.

As you might expect, the more coverage that you get from a life insurance plan, the more expensive it's going to be. But there are some life insurance plans that will help you strike a happy medium between good coverages and affordable prices.

4. Terms

There will be a set of life insurance terms and conditions that will be attached to every single life insurance plan you consider. In a perfect world, you should try to find the time to read through all of these terms and conditions accordingly.

Certain life insurance companies will put restrictions on you as far as what you'll be able to do to keep your life insurance plan intact. You should try to avoid signing up for policies with them since it could lead to you inadvertently voiding your life insurance plan.

You'll be better off looking high and low for life insurance plans that come with limited terms and conditions. It'll enable you to get the coverage you need without putting too many limitations on your lifestyle.

5. Cost

A life insurance plan can cost anywhere from around $25 per month on the lower end of the spectrum to well over $500 per month (if not more!). For this reason, cost is always a big concern for those selecting life insurance plans.

You should get a general idea of how much you can afford to pay for life insurance just before you start shopping around for it. From there, you should then be able to shop for a life insurance plan while comparing insurance costs through different providers.

6. Beneficiary

You probably won't be the one who will benefit from having a life insurance plan. Although you might be eligible to collect some benefits from it, it's going to be your beneficiaries who will potentially benefit the most from your life insurance plan.

With this in mind, you should make sure that you pick the right beneficiaries for your life insurance policy. Your beneficiaries should be your spouse and kids, your kids, your siblings, or some other family members who are important to you.

7. Timing

Do you want to sign up for a life insurance plan right now and begin using it right away? Or would you prefer to wait a few months or maybe even a few years before obtaining life insurance coverage?

You're more than welcome to get a life insurance plan whenever you would like. But you should think about the timing of getting one before you actually start trying to select one.

You might find that the prices for life insurance will change based on when you decide to invest in a plan.

Remember These Things When Selecting Life Insurance Plans

Selecting life insurance plans isn't something that people should ever do on a whim. You're going to want to do your homework on the different life insurance policies that will be available to you before picking one out.

Consider each of the factors that we've listed here prior to picking life insurance plans. It'll make it so much easier than it would be otherwise to navigate your way through your different options for insurance plans.

Read more informative insurance-related content by browsing through our other blog articles.

10 Guaranteed Ways to Add a Rustic Design Aesthetic to Your Home in 2022

Many homeowners are going for a classic, rustic aesthetic to make their home’s interior pop in 2022. To ensure your home is comfortable, classy, and down-to-Earth, few other design aesthetics are as tailor-fit to your needs. However, without a solid starting point, knowing what to do to achieve this rustic look can become difficult. If you need a bit of help, here are ten guaranteed ways to add a rustic design aesthetic to your home in 2022: 

1. Neutral Color Palettes 

When looking for color palette choices for your rustic-inspired design choices, neutrals are a must. Finding neutral color palettes that will not make your home look overly modern or chic is essential. Blacks, whites, browns, and light greens are some of the best neutral color palettes you can use when trying to unlock a solid, great-looking rustic-inspired interior design for your home. 

2. Antler-Crafted Chandeliers 

One of the most popular, intriguing, and rustic-inspired decorations you can buy for your home is a finely-crafted antler chandelier. These not only provide an interesting lighting setup for your home, but the antlers beckon to the rustic, naturalist lifestyle that you want your home’s interior to invoke. Finding one that will fit your home’s living room or kitchen, and then making the investment, may even prove to be a highlight of your year. 

3. Nature-Inspired Colors 

Nature-inspired colors will add to your home’s rustic look incredibly fast. Woodland-inspired greens, sky-like blues, and white shades that remind you of a beautiful oak tree are all great choices. Green shades have become particularly popular for bathrooms in 2022, so if you want to make your bathroom appear more rustic, this is the way to go. 

4. Plenty of Live Plants 

Live plants enliven a home’s atmosphere, make your breathing air purer, and give a rustic look to your home’s interior that you will love. Make sure to get season-appropriate plants to keep the rustic look authentic, however. Doing so will also make it much easier to keep your plants alive so that you gain the full value out of them. The number of extra relaxation plants can add to your home space is one of the best reasons to go for this choice. 

5. Nailhead Trim 

Nailhead trim is one of the best ways to add a true sense of authenticity to your home’s rustic look. It’s also one of the cheapest, as long as you’re willing to take on a DIY project to add nailhead trim around your home. Finding the rooms that will benefit from this upgrade the most is a solid way to go if you do not want to add this decoration flair throughout your entire home, however. 

6. Camp-Inspired Outdoor Spaces 

When it comes to making your home have a rustic look, there are plenty of outdoor projects you can take on as well. Making your outdoor spaces have a camp-centric look or one that screams “ranch house” is especially recommended. The sheer rustic value a simple campfire or fire pit can add to a home’s exterior is hard to overstate, after all. 

7. Natural Lighting 

Using natural lighting in your home as much as humanly possible is perfect for adding a rustic aesthetic. After all, people pre-1900s relied a lot more on natural light than we do today. Using windows that are designed to let in more natural light, adding a screened-in porch to your home, and using other light-boosting, ambient design choices will help you nail this rustic design element successfully. 

8. Repurposed Wood 

Fantastic wood is essential in rustic-inspired homes. Using repurposed wood can add an extra layer of authenticity to your home’s rustic inspirations while saving you money during the designing process as well. Using oak wood is particularly recommended unless you have access to repurposed barn wood (which is perhaps the best option). 

9. Vintage Textiles 

Rustic, vintage textiles are a key element of a farmstead and French home designs. Adding vintage textiles to your walls, your furniture, and other similar areas of your home is especially recommended. The search for the perfect vintage textiles will be incredibly fun, so this is one of the most attractive ways to add a rustic design aesthetic to your home. 

10. Staying Seasonal 

If you want to keep the rustic look of your home up-to-date, adding occasional seasonal updates to your home is essential. Whether you’re adding winter colors, adding some summer-specific plants to your home, or using other decorations to improve your home’s rustic look, the updates will be sure to thrill you and your future guests.  

Rustic Looks Can Define a Home’s Interior in Style 

With a solid rustic look, your home’s interior can become more stylish than it’s ever been. There are many amazing design choices to consider, both on and off this list. If you’re been looking for the perfect creative project to spruce up your home in 2022, embracing a rustic look is a great potential way to achieve your dream.