Thanks to inflation and weather, the insurance companies that insure our homes and autos have needed to make some unpleasant increases in what we pay for insurance. Making sure you’re getting all the discounts you can on your home and auto policies has never been more important. Each insurance company offers discounts for different reasons – insurance score, loyalty, the car you drive, your age, etc. Most of these discounts are identified automatically by all the computer systems we use, including the discount for “bundling” your insurance (having your home and auto policies with the same insurance company). Some discounts are based on your career choice, affiliations with organizations like a Chamber of Commerce, etc.
Insurance companies such as Frankenmuth Insurance and Auto Owners have life insurance products that bundle with your home and auto policies. This means that much (if not all) of the cost of the life policy could be offset by the discounts generated on your home, auto, and umbrella policies. Many people would qualify for a small life policy that would essentially cost them zero to $20 a year. With home and auto insurance prices going up, this life discount keeps getting bigger and is worth looking at even if you’ve turned it down in the past. For some, the home and auto discount created by the life policy would be greater than the cost of the life insurance policy, especially if you get a life policy for a child or grandchild. This means you could save money overall AND get a life policy or two.
As easy as this all is, talking about life insurance isn’t easy — especially a life policy for a child. But a small life policy can make a big difference in dealing with expenses nobody thinks about until they happen. Don’t overthink this. It’s a good idea. Contact your insurance agent and have a good conversation about how inexpensive a small life insurance policy could be and tackle the relatively simple paperwork. It doesn’t cost anything to see how well this could work out for you!
