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1654 The Alameda, Suite 210
San Jose, CA 95126

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When to Update Your Life Insurance Coverage

Insurance isn’t something you should sign up for, pay monthly or quarterly, and forget about. Your life changes, and as it does, your insurance should change with it to ensure you’re always getting the best coverage for your needs. KC Wilson Insurance & Financial Services offers this guide in navigating this important coverage. 

Here are four critical times you should update your life insurance policy in San Jose, CA.

Life Insurance Coverage: When To Update

1. Get Married

Like most people, you probably don’t think too much about life insurance when you’re single. But once you get married, it’s essential to have a policy in place. If something happens to you, the money can help your spouse cover funeral costs, pay off debts, and maintain their standard of living.

2. Have Children

Adding a child to your family is an enormous responsibility, and it’s also an excellent time to update your life insurance policy. If something happens to you, the money can help your spouse cover child care costs, pay for education, and maintain their standard of living. Your KC Wilson Insurance & Financial Services agent can help you choose the right policy for your family.

3. Buy a House

If you’re a homeowner, having enough life insurance to cover your mortgage is essential. If something happens to you, your family won’t have to worry about losing their home. Homeownership is expensive. With the right amount of coverage, you can also ensure that your family can afford things like home repairs, renovations, or even a move to a new house.

Give Us A Call

If you haven’t updated your life insurance policy, now is the time to do it. Make an appointment with KC Wilson Insurance & Financial Services in San Jose, CA today. We’ll help you choose the right policy for your needs and budget.

Don’t wait—update your life insurance policy today!

5 moments when you should buy or update life insurance in San Jose, CA

Life insurance isn’t a question of "why." It’s a matter of "when."

It’s true that many people don’t fully realize the importance of life insurance. However, even current policyholders neglect to update frequently. A "set it and forget it" approach is insufficient.

Whether it’s insurance needs, financial strategy, or estate planning, that’s why KC Wilson Insurance & Financial Services recommends regular reviews and revisions. Serving San Jose, CA, the agency lists five events that require an immediate re-evaluation of your life insurance needs.

Getting married

Marriage is a major step. Yet it’s also a financial commitment. The unexpected death of a spouse leaves behind bills, debts, and other expenses. Life insurance helps alleviate this burden by providing for a surviving partner.

Expecting a child

Having a baby can be stressful. But expect a few less sleepless nights with the security of a life insurance policy. In the event of an emergency, increased coverage can cover these costs.

Buying a home

Life insurance can supplement mortgage payments if something happens to you. This ensures the house remains with your spouse, partner, or family after you’re gone.

Starting a business

Life insurance safeguards your business too. In addition to providing protection, a policy may protect investors and other stakeholders who have an interest in a company’s direction if you happen to pass.

Considering retirement

The primary function of life insurance is to replace a deceased person’s wages. In retirement, this is less of a necessity. Social Security and pension may provide enough to warrant a decrease in life insurance benefits.

Contact KC Wilson Insurance & Financial Services

As life changes, your insurance policy should too. Serving San Jose, CA, the agency can find the appropriate coverage to best meet your needs. Schedule an appointment today.

Types of Life Insurance

KC Wilson Insurance & Financial Services serving San Jose, CA, is there to help you choose the right life insurance for you and your family.

Life insurance can be divided into two main types, each with its own benefits and drawbacks, and each type has policy variations within the overall framework.

Term Life Insurance

Term life insurance is life insurance set for a specified time period, either calculated in years or when you reach a particular age. If you die during the policy’s specified period, your beneficiaries will receive the policy’s value, and if you do not, the beneficiary will receive nothing. Term life insurance is renewable up until a certain age, at which point it will either fall away or need to be converted to whole life insurance where possible.

The benefit of term life insurance is that it is usually more cost-effective than whole life insurance, but the drawback is that the older you get, the more expensive it becomes.

Whole Life Insurance

Whole life insurance is the other main type of life insurance, and it is for your entire life. It does not matter when you pass away; the death benefit is paid to your beneficiary, and it does not expire unless you cancel it or stop paying the premiums.

When you take out this type of policy, the premium is usually higher to build a cash value reserve to supplement the premium later in life. One of the benefits of whole life insurance is that you can generally take out loans on the cash value reserve, depending on the policy wording.

Contact Us

Life insurance allows you to rest easy knowing that your beneficiaries are taken care of financially after you are gone. Contact KC Wilson Insurance & Financial Services, serving San Jose, CA, today about life insurance!

Life Insurance for Beginners

There are many benefits to life insurance and many things to consider. KC Wilson Insurance & Financial Services serving the city of San Jose, CA would like you to know the following:

Purchasing a life insurance policy is considered financial planning. When you purchase a life insurance policy, you are trying to assure the financial security of your dependents. To be neither under nor overinsured, you need to determine your standard of living and what it would cost to maintain that lifestyle after you pass away. At the same time, you need to calculate what you have available within your budget for life insurance.

There are two basic types of life insurance.

  • Term life insurance – this is a life insurance policy for a certain time frame. It expires after a specified number of years or at a particular age. It is only payable if you pass away during that term. They are renewable, but usually, the premiums get more expensive as you age. The premium cannot exceed the guaranteed maximum premium payable. This type of policy pays death benefits with no accumulation of savings. Death benefits are monies payable to a spouse and dependents after the death of the policyholder.
  • Cash value life insurance – this type of policy combines cash value accumulation with death benefits. With cash value life insurance, you pay more in the beginning, but you accumulate interest. This type of insurance is usually a life-long investment but does allow you to use the cash value as collateral for loans. There are several variations on this type of policy.

Don’t delay, contact KC Wilson Insurance & Financial Services serving the city of San Jose, CA today! Make plans for the long term to ensure the financial stability of your loved ones.

What are the benefits of having life insurance in San Jose?

Anyone that is in the San Jose, CA area will have several insurance needs. One form of insurance that all people in this area should think about getting is life insurance. Different benefits come with life insurance protection, which makes it well worth investing in this area. 

Provides Insurance for Dependents

The key benefit that you receive when investing in life insurance is that you will receive insurance support for your dependents. If you have people in your life who rely on you as a source of income, protecting their financial future is necessary. If you invest in a life insurance plan, the coverage you provide can be curtailed to meet their needs. This can ensure that any future costs of living, education, and even retirement are covered.

Investment Alternative

An additional benefit that you can receive when investing in life insurance is that you can use some plans as an investment alternative. If you choose to invest in a whole life insurance plan, some of your payments will go into an account that collects interest each month. This will add up over time and can be converted to cash quite easily. This makes it a good addition to a well-rounded personal investment plan.

If you want to invest in a life insurance plan in the San Jose, CA area, it would be wise to call KC Wilson Insurance & Financial Services. There are many important choices to make when picking this insurance, and KC Wilson Insurance & Financial Services can make it easier for you. They can carefully assess your situation and provide the guidance you need to choose the right plan. 


Why relying on life insurance from your employer isn’t adequate

Life insurance is one of the most important types of coverage you can have. It is not something anyone likes to think about, but passing away is one of life’s realities. If it happens unexpectedly when you are young, it can be traumatic in a variety of ways. One of them shouldn’t be how your family will survive the loss of your income. At KC Wilson Insurance & Financial Services in San Jose, CA, we offer full-service insurance planning and financial services. 

Life insurance is part of financial planning. For many people, life insurance is not something they know a lot about or think about. Your employer may provide a policy as part of your benefits package. If this is the only life insurance you have, you may be risking your family’s financial future. When was the last time you checked what the dollar amount is on your policy? Have you considered whether it is enough for your family to live on if you are no longer there? 

It is a great thing to have a life insurance policy from your employer, but what if you change employers? Where does that leave you with insurance coverage? Many policies won’t payout for a year or two after they are issued. If you change jobs often, it is a much better and safer plan to buy your own life insurance. Consider what you get from your employer as a nice supplement. When you purchase your own insurance, you have control over the amount and can choose from many different options. 

Life insurance is too important to leave to chance. At KC Wilson Insurance & Financial Services in San Jose, CA, we can help you develop a financial plan for today and the future. Give us a call to make an appointment to discuss your needs.

Why should you buy life insurance early?

Financial experts generally recommend having good saving habits, but insurance experts have a better way of helping you save money–life insurance. Life insurance, whether buying in San Jose, CA or any other area, comes with benefits, especially if you buy it at the right time. KC Wilson Insurance & Financial Services recommends buying life insurance in your 20s or early 30s. Wondering why?  Let’s discuss some of the benefits.

The younger you are, the easier it is to acquire a policy.

When it comes to timing, buying insurance while young is more straightforward than buying when older. Your premiums are lower at a younger age, your health is considered okay, and you have more working years than senior people. That means that your insurance company can invest in your money and get good returns by the time you need it.

The younger you are, the cheaper it becomes

Insurance companies in San Jose, CA are aware that not many young people consider buying life insurance in their youthful years. At this age, the majority of the youth are students still struggling to pay their college debts; others are just settling in their new jobs, while others are starting a new family. All these financial constraints can prevent a young person from buying life insurance.

The younger you are, the healthier you are, hence cheaper rates.

The biggest reason why you should buy insurance at an early age is to make sure you get your policy before you develop a chronic illness. Like any other insurance policy, you never know when something unfortunate will happen. Most chronic diseases and impairments tend to affect older people than young people. If you are found healthy, your life insurance premiums are substantially lower than when older.

Don’t wait till you are too old to buy insurance. The earlier, the better. If you need insurance or financial advice, KC Wilson Insurance & Financial Services is here to answer and provide all the support you need to make informed financial decisions. Try us today!

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