Many different types of insurance policies intersect, and it’s natural to wonder whether you can use a policy in conjunction with another for additional coverage. For example, could you take out an umbrella insurance policy alongside your life insurance policy? If so, what might that look like, and how might it work? Here’s what you need to know about combining umbrella insurance with life insurance and whether it’s possible. Start your journey with us at Brown-Hurst Insurance Agency Inc., serving Iowa, now!
Is It Possible to Combine Umbrella Insurance and Life Insurance?
The goal of life insurance is to ensure your family has a sizable death benefit they can rely on if you pass unexpectedly. The prospect of growing that death benefit is something that most people would jump at if they had the opportunity. Since personal umbrella insurance provides added coverage across multiple policies, you might assume it also increases your overall death benefit. Unfortunately, that’s not how it works. One covers your liability exposure, and the other covers your life. Umbrella insurance policies are designed to complement policies like auto and home insurance, providing you with extra liability coverage if one of the primary policy limits is exceeded. Basic life insurance, on the other hand, only offers coverage for death, not liability, and offers a death benefit to the insured’s family or beneficiary. You can’t add umbrella insurance to increase your death benefit, no matter how enticing that sounds. Make sure you’re pairing your umbrella insurance policy with compatible insurance, not with insurance that it won’t enhance, such as life insurance.
Get Life Insurance With Brown-Hurst Insurance Agency Inc.
Brown-Hurst Insurance Agency Inc., serving Iowa, is here to help you acquire an umbrella policy that works seamlessly with your liability protection. We work with you to find and compare quotes so that all you have to do is choose the policy that works best for you. Compare quotes with us now to get started!
