Life Insurance Resources

Welcome to the new ANICO Direct resource center. Check back often as we will be adding helpful online resources to assist you with your life insurance and personal finance needs.

Useful Links:

Life Insurance Glossary
FAQs ANICO
Insurance Information Institute
Life and Health Insurance Foundation for Education (LIFE)

Tips to Consider When Planning Your Life Insurance Purchase.

Are you relying on the life insurance your employer provides?  Unfortunately, those workplace policies generally don’t provide enough protection for people who want to provide support for their dependents after they die.

Another mistake people often make is to forget to update a policy. The Insurance Information Institute recommends an annual review of your life insurance policies. If you’ve had a significant change in your life, such as a marriage or divorce, a child or grandchild being born or adopted, bought a new home, taking on the financial responsibility of an aging parent and so on, you may need to buy more life insurance.

Thinking short term instead of long term can leave your dependents under protected. Many people don’t think about the length of time their policy’s proceeds will have to support their loved ones after they die. For example, if your child is 5 years old, he or she should be out on their own in 20 years. The money from your life insurance will need to provide financial support for 20 years.

When trying to figure out how much life insurance is needed, many people forget about the non-monetary benefits they receive at work, such as health insurance and retirement accounts. Your life insurance policy should pay your beneficiaries enough so they can afford health insurance premiums, set aside money for retirement and other often over-looked benefits.