IntelliQuote's New Parent Checklist: Diapers, Bottles, Bassinet, Stroller, Life Insurance

EL DORADO HILLS, Calif., Aug. 24, 2011 /PRNewswire/ -- Is there anything more precious than a beautiful, healthy new baby?  With more than four million babies born in the U.S. every year, new parents are introduced to the amazing joys of parenthood every day, as well as the incredible responsibility of raising a child.  

For new parents, one of your first responsibilities is ensuring lifelong financial security for your baby.  There are a host of factors involved, including covering ongoing living expenses and increased family costs for food, clothing and utilities; expenses for extracurricular activities; medical costs and college tuition...the list is daunting.  With these factors in mind, purchasing a comprehensive life insurance policy will ensure a comfortable future for your child.

"As a new parent, your primary concern is the well-being of your child, and knowing that he or she will be provided for should something happen to you," said life insurance authority Gary Lardy, CEO of IntelliQuote (www.intelliquote.com), a leading online life insurance agency.  "Thankfully for most new parents, it is the ideal time to purchase life insurance.  As a young adult in good health, you can lock in low rates for a term life policy for up to 30 years.  Making this important decision today will provide you peace of mind for years to come.  Bringing a new baby into your home can be both exciting and scary, and being financially prepared helps ease some of the 'new parent' anxiety."

How Much Life Insurance is Recommended for New Families?

Because life insurance rates increase as you age, purchasing term life insurance as a young adult is a solid plan.  When you purchase as a young adult, you are able to lock in premium rates for the term of the policy—10, 20, perhaps 30 years—and that low rate is maintained for the duration of the term.  It is best to choose a policy that will last through your child's college years, or until they no longer need the financial support of your family.

In general, it is recommended that your life insurance policy covers eight to 10 times your current earnings, plus the following considerations: the amount of yearly income needed; the number of years this income will be needed; other anticipated expenses including college education expenses and retirement needs; the average annual percentage of interest your investments will earn and the expected average annual rate of inflation.

You can estimate how much life insurance you need simply and easily by going to:
http://www.intelliquote.com/resources/life/term-life-insurance-calculator.asp

Finally, Lardy also recommends that new families consider a will or trust to protect the interests of a new and growing family.  "Establishing a written estate plan while you're healthy allows you to clearly define your wishes and needs and establish exactly how you'd like all your personal and medical affairs to be handled."

Is your 'new baby checklist' complete?  Ensure the financial security of your precious new baby now and be better prepared to enjoy every amazing moment to come.  

ABOUT INTELLIQUOTE

A leading online life insurance agency since 1997, IntelliQuote provides customers simplified, private access to compare, shop and buy life insurance online, including term life insurance quotes. IntelliQuote offers clients a wide selection of competitive products from A-rated carriers, supported by licensed agents. This simplified approach makes purchasing a policy easy and straightforward while providing a savings of up to 70% per policy. IntelliQuote is a member of the LIFE Foundation and is committed to ongoing consumer education. For information on how to estimate how much coverage an individual might need, visit www.intelliquote.com.

For more information, contact www.intelliquote.com, or 888.883.6855.

Available Topic Expert(s): For information on the listed expert(s), click appropriate link.
Gary Lardy  
https://profnet.prnewswire.com/Subscriber/ExpertProfile.aspx?ei=95233

SOURCE IntelliQuote