Life Insurance in Lake Success, New Rochelle, White Plains, Yonkers and Surrounding Areas

Purchasing life insurance is one of the most important financial decisions you’ll make. It not only protects the loved ones you’ll leave behind, but it can also be effective long before that. While there are numerous factors to consider when getting life insurance, here are five of the most important ones to consider. Woman Sitting in Grass Holding Baby in Air with Life Insurance in White Plains

  1. Determine how long you’ll require coverage.

Life insurance is designed to last for a set amount of time. Consider term insurance if you just need insurance for a particular period (such as when your children are growing up or for the duration of your mortgage). Consider permanent coverage if you need life insurance for the rest of your life (for things like funeral costs or income replacement for a spouse). 

  1. Determine the amount of life insurance you require.

One technique to determine how much money you’ll leave behind is to use the “DIME” method. DIME stands for “Debt Mortgage,” “Private Student Loans,” “Car Loans,” “Credit Cards,”  

I-Substitution of income 

M-stands for Mortality. 


  1. View other goals.

Permanent life insurance plans can be utilized as a source of savings. Permanent life insurance policies last for the rest of your life and have a cash value that is expected to grow over time.  

  1. Designate a recipient.

If the insurance is intended to benefit your company, you should have a written plan in place for how the proceeds will be used.  

  1. Confer an honorable counselor.

When it’s time to buy life insurance, you need someone who will look out for your best interests and guide you through the process. 

Cafaro Insurance Agency gives clarity and knowledge to individual and group life, health, and disability insurance through years of experience around Lake Success, NY, New Rochelle, Huntington, NY, Farmingdale, White Plains, and Yonkers areas. Individual life insurance, Medicare supplement insurance, and a variety of other insurance options are all available to people who aren’t covered by an employer’s group plan.