A major lawsuit isn’t just a risk for the ultra-wealthy. It can happen to anyone after a multi-car accident, a guest slipping on your porch, or even something a family member posts online. While your home and auto insurance are a great start, their liability limits can be wiped out quickly in a serious claim. When that happens, you’re personally on the hook for the rest—putting your savings and assets at risk. An umbrella policy is your financial backup plan, adding an essential extra layer of protection. This guide will show you exactly what to look for to find the best umbrella insurance for your family.
Key Takeaways
- Think of it as high-limit, low-cost protection: Umbrella insurance is an affordable way to add at least $1 million in liability coverage on top of your existing policies, ensuring one major accident doesn’t jeopardize the assets you’ve worked hard to build.
- Calculate your need by assessing assets and risks: Determine if you need coverage by adding up your total net worth—including savings, investments, and property. Then, consider lifestyle factors like owning a pool or having a teen driver that increase your liability risk.
- Know its specific purpose is liability: An umbrella policy is not a catch-all. It only covers liability claims against you and won’t pay for your own injuries, damage to your personal property, business-related lawsuits, or intentional harm.
What Is Umbrella Insurance and Why Does It Matter?
Imagine this: a guest slips and falls on your icy driveway, or you’re found at fault in a multi-car accident. The resulting lawsuit could easily exceed the liability limits on your standard home or auto insurance policy. When that happens, your personal assets—your savings, your investments, even your future income—are on the line. This is where umbrella insurance comes in.
Think of it as an extra layer of security. It’s a separate policy that provides additional liability coverage above and beyond your existing policies. It’s designed to protect you from major claims and lawsuits, ensuring that one unfortunate event doesn’t jeopardize your financial future. While it might sound like something only for the ultra-wealthy, it’s a practical safety net for anyone who has worked hard to build a life they want to protect. Having the right insurance solutions in place gives you the confidence to know you’re covered when you need it most.
How Does Umbrella Insurance Work?
So, how does this “umbrella” actually shield you? It kicks in right where your other policies leave off. Your standard home or auto insurance has a liability limit—often around $300,000 to $500,000. If you face a claim that costs more than that limit, you’d normally have to pay the rest out of pocket. With an umbrella policy, it steps in to cover the excess amount, up to the limit of the policy.
This coverage isn’t just for accidents. It also extends to situations your standard policies might not cover at all, like lawsuits for slander, libel, or false arrest. It essentially widens your safety net, covering legal defense costs and protecting you from a wider range of potential financial disasters.
What an Umbrella Policy Actually Covers
An umbrella policy’s value comes from its broad scope. While it’s most commonly associated with covering excess liability from home and auto claims, its protection extends much further. It’s designed to shield you from a variety of lawsuits that could otherwise be financially devastating. This includes situations you might not even think of as major risks, from something you post online to an accident involving a rental boat on vacation. Understanding these specific coverages helps clarify why it’s such a crucial part of a complete personal protection plan.
Claims of Hurting Someone’s Reputation
In our highly connected world, a comment made in passing or a negative online review can have serious consequences. An umbrella policy is designed to cover claims that could damage someone’s reputation, such as libel (written false statements) and slander (spoken false statements). If you or a family member are sued for something you’ve said or written, this policy can cover the legal fees and settlement costs that your standard homeowners insurance likely won’t. This type of coverage is essential for protecting your assets from personal liability claims that go beyond physical injury or property damage.
Accidents Involving Uninsured or Underinsured Drivers
Getting into an accident is stressful enough, but it’s even worse when the at-fault driver doesn’t have enough insurance to cover your medical bills or lost wages. While your own auto policy has uninsured/underinsured motorist coverage, a severe accident can quickly exhaust those limits. An umbrella policy provides an additional layer of financial protection, stepping in to cover the remaining costs. This ensures you aren’t left with a mountain of debt because someone else wasn’t properly insured, giving you the financial backup you need to recover without worry.
The Growing Need for Protection Against Rising Lawsuit Costs
It’s a simple fact: the cost of a lawsuit is higher than ever. Juries are awarding larger settlements in liability cases, and the associated legal and medical fees can be staggering. This trend means that standard liability limits on home and auto policies, which may have seemed adequate years ago, might not be enough to cover a major claim today. According to industry analysis, these rising costs make a personal umbrella policy less of a luxury and more of a necessity for protecting your financial future. Getting trusted guidance to assess your personal risk can help you determine the right amount of coverage to ensure your assets are secure.
Who Really Needs Umbrella Insurance?
While anyone can benefit from the extra protection, umbrella insurance becomes especially important as your assets grow. A good rule of thumb is to have enough coverage to protect all your taxable assets, which includes things like investments, vacation properties, and savings accounts.
Take a moment to add up the value of your assets. Now, compare that number to the liability limits on your current home and auto policies. If your assets are worth more than your coverage, you have a gap that leaves you vulnerable. That gap is exactly what an umbrella policy is designed to fill. It’s a must-have for anyone whose net worth exceeds their existing liability coverage, ensuring your hard-earned assets stay yours.
3 Common Umbrella Insurance Myths, Debunked
One of the biggest myths is that umbrella insurance is only for millionaires. The truth is, you don’t have to be wealthy to be sued. This type of policy is for anyone who wants to protect their assets and future earnings. Another common misconception is what it covers. An umbrella policy is for liability, meaning it protects you when you’re responsible for someone else’s injuries or property damage.
It does not cover your own injuries or damage to your own property—that’s what your health, home, and auto policies are for. It also won’t cover intentional criminal acts or liabilities related to your business activities. Understanding these distinctions helps you see where it fits into your overall financial protection plan.
Finding the Best Umbrella Insurance Companies
Choosing an insurance company can feel overwhelming, but it really comes down to finding the right fit for your life. The best provider for your neighbor might not be the best one for you. Your financial situation, lifestyle, and what you value most in a company—be it digital tools, flexible policies, or a personal connection—all play a part.
To help you get a clear picture of what’s out there, I’ve put together a look at some of the top umbrella insurance companies. We’ll cover national names known for specific strengths as well as the distinct advantages of working with a local expert who understands our community. Think of this as your starting point for finding the policy that gives you true peace of mind.
Feld Insurance: The Local Choice
There’s something to be said for working with someone who knows your name and your neighborhood. Feld Insurance stands out by offering that exact personalized service right here in Springfield and East Peoria. Instead of a one-size-fits-all approach, they focus on understanding your unique situation to provide truly tailored coverage. This local expertise means you get guidance from a team that understands the specific needs of Illinois residents. If you value building a relationship with your agent and want advice you can trust, starting with a local expert is a smart move.
Allstate: Best for Comprehensive Coverage
Allstate has built a reputation for offering thorough coverage at competitive prices. Their umbrella policies are a solid choice if you’re looking for a straightforward way to add significant liability protection on top of your existing home and auto insurance. According to WalletHub’s list of the best umbrella insurance companies, Allstate is a strong contender for those who want extensive coverage without overcomplicating the process. They provide a reliable safety net for a wide range of potential liability claims, making them a popular option for many families.
Liberty Mutual: Best for Policy Flexibility
If your life doesn’t fit into a neat little box, Liberty Mutual might be the right choice for you. They are known for their flexible policy options, which allow you to customize your umbrella insurance to match your specific needs. This adaptability is a huge plus for anyone with varying levels of risk, like owning a rental property or having a pool. The ability to adjust your coverage means you’re only paying for the protection you truly need. This focus on flexible policies makes them a standout for those who want more control over their insurance plan.
USAA: Best for Military Families
USAA is dedicated to serving military members and their families, and their insurance offerings reflect that commitment. They provide specialized umbrella policies designed to address the unique circumstances that service members often face, like frequent moves or deployments. Their deep understanding of the military lifestyle allows them to offer highly relevant and supportive coverage. If you or a family member has served in the armed forces, USAA is widely regarded as one of the top providers for its exceptional customer service and specialized products tailored to the military community.
Coverage Limits and Policy Requirements
So, how much coverage do you actually need? Umbrella policies typically start at $1 million in protection, and for good reason. In a serious legal situation, lawsuit costs can quickly climb into the millions, far exceeding standard policy limits. To figure out the right amount for you, start by calculating your net worth. Add up your savings, investments, home equity, and other valuable property. A good rule of thumb is to have enough coverage to protect all your taxable assets. You should also consider your personal risk factors. Do you have a swimming pool, a teenage driver, or a dog? These elements can increase your liability risk and are important to factor into your decision.
It’s also crucial to understand what an umbrella policy is designed to do—and what it isn’t. This insurance is specifically for liability claims, meaning it protects you when you’re held responsible for injuring someone else or damaging their property. It does not cover your own injuries or damage to your personal property; that’s the job of your health, auto, and home insurance. Similarly, it won’t apply to business-related lawsuits unless you have a specific commercial umbrella policy. Knowing these distinctions is key to making sure your umbrella policy fits correctly within your overall financial safety net, giving you confidence that you’re truly protected.
Chubb: Best for High-Net-Worth Individuals
For those with significant assets to protect, Chubb is a leader in the insurance space. They specialize in catering to high-net-worth individuals, offering exceptionally high liability limits that go far beyond standard policies. Their plans are designed to provide comprehensive protection for valuable homes, car collections, and personal reputations. If you have a complex financial portfolio, Chubb’s expertise in managing the risks of affluent clients makes them a go-to choice. They are recognized for providing the robust coverage needed to safeguard a substantial nest egg.
Coverage Limits up to $100 Million
When you have significant assets, the scale of protection you need also increases. For high-net-worth individuals, some insurance providers, like Chubb, offer umbrella policies with coverage limits that can reach up to $100 million. This level of protection is specifically designed for those with valuable homes, extensive investments, and other major assets. As CNBC points out, umbrella insurance is crucial to cover large legal bills that go beyond what your regular insurance pays. With the increasing costs of lawsuits, a policy with a high coverage limit provides a critical safety net to safeguard your financial future.
Travelers: Best for Competitive Rates
Travelers is often highlighted for its competitive rates, making it an attractive option for both individuals and business owners looking for value. Their umbrella policies deliver strong protection without an excessive price tag, proving that you don’t have to compromise on coverage to find an affordable plan. This balance of cost and quality makes them a practical choice for anyone wanting to secure extra liability coverage while keeping their budget in mind. For those seeking robust protection that is also cost-effective, Travelers is frequently cited as a company that offers great value.
Customer Satisfaction and Coverage Options
Choosing an insurance provider involves more than just comparing policy details. Your overall satisfaction often depends on the entire experience—from the quality of customer service to how easy it is to manage your accounts. Companies that offer smart ways to save, like bundling discounts or special member perks, really stand out. These features not only make your insurance more affordable but also simplify your financial life. It’s about finding a provider that offers both great coverage and great value, which is a win-win for anyone with a busy schedule.
American Family: Best for Bundling Options
If you value simplicity and savings, American Family is a strong contender. They are especially known for their bundling options, which simply means getting multiple policies—like home and auto—from the same company. This approach is popular because it streamlines your insurance management into a single account and almost always comes with a significant discount. By combining your policies, you can create a comprehensive safety net that protects your biggest assets while also saving you money, giving you one less thing to worry about.
Partnerships and Discounts for Costco Members
A standout feature for American Family is its long-standing partnership with Costco. For over two decades, they’ve provided exclusive discounts to Costco members on home, auto, and umbrella insurance. This collaboration adds an extra layer of value for anyone who is already part of the Costco ecosystem. If you’re a member, you can get specialized quotes designed to offer competitive rates and robust coverage, making the most of your existing membership.
How Much Does Umbrella Insurance Cost?
Okay, let’s get right to it: what does this extra layer of protection actually cost? It’s the question on everyone’s mind. You’ve worked hard to build your life here in Springfield or East Peoria, and while protecting it is a priority, your budget is, too. The good news is that umbrella insurance is often much more affordable than people think. It’s less about adding another big bill and more about making a smart investment in your financial security—and frankly, your ability to sleep at night. When you think about everything you have, from your home to your savings, this coverage acts as a vital safety net for those unexpected, high-cost events. A serious car accident or an injury on your property could lead to a lawsuit that exceeds the limits of your standard policies. That’s where an umbrella policy steps in, covering the difference and protecting your assets from being seized. So, before you dismiss it as a luxury, let’s break down what you can expect to pay and what goes into that number. You’ll likely find that this level of peace of mind is well within reach.
What You Can Expect to Pay
You might be pleasantly surprised by the numbers. For a $1 million umbrella policy, most people pay between $150 and $300 per year. That’s about the cost of a fancy coffee each month. Need more coverage? A $2 million policy typically runs from $300 to $500 annually. When you consider that this umbrella insurance kicks in after your standard home or auto liability is maxed out, that small yearly premium provides a massive safety net for a worst-case scenario. It’s a lot of protection for a relatively low price, ensuring one lawsuit doesn’t derail your financial future.
Real-World Cost Examples
To give you a better idea, let’s look at what people are actually paying. The price for umbrella insurance can be very different from person to person, as it depends on your specific risk factors. For example, in some real-world discussions, you’ll see one person paying just $180 per year for $1 million in coverage, while another might pay around $700 annually for a $3 million policy. For even higher limits, like $5 million, costs can range from about $350 to $600 per year. These examples show that while your individual rate will vary, securing millions in extra liability protection is often surprisingly affordable. It’s a small price for the significant peace of mind that comes with knowing your assets are secure.
What Factors Influence Your Rate?
Of course, your premium is unique to you. Insurers look at your specific situation to determine your rate. The biggest influences on your cost include the liability limits on your current home and auto policies, how many homes or cars you own, and if you have any higher-risk factors, like a pool or a teenage driver. Your driving record also plays a part. The best way to get a favorable rate is often by bundling your policies. When we handle your home, auto, and umbrella coverage together at Feld Insurance, we can often find discounts that make it even more affordable and simplify your life.
Is Umbrella Insurance Worth the Cost?
This is the million-dollar question (sometimes literally). The simple answer is: if your assets are worth more than the liability limits on your home or auto insurance, then yes, it’s absolutely worth it. Take a moment to tally up your home equity, savings, retirement accounts, and other investments. A major lawsuit could put all of that at risk. For a few hundred dollars a year, you can protect everything you’ve built. It’s a straightforward calculation of risk versus cost, and for many families and individuals, the financial security it provides is an invaluable investment in their future.
How to Choose the Right Umbrella Policy
Once you’ve decided that an umbrella policy is a smart move, the next step is finding the one that fits your life perfectly. It’s not a one-size-fits-all situation. The right policy for your neighbor might not be the right one for you. Making a smart choice comes down to looking at your financial picture, understanding what makes a great insurance provider, and knowing the requirements before you sign up.
Think of it like tailoring a suit—you want the coverage to fit your specific measurements. This means taking a clear-eyed look at your assets, your lifestyle, and your existing insurance policies. By focusing on a few key areas, you can confidently select a policy that gives you the right amount of protection without overpaying. We’ll walk through exactly what to look for so you can feel secure in your decision and know you’re covered when it matters most.
Align Coverage with Your Assets
The first step is to figure out how much coverage you actually need. A good rule of thumb is to get enough umbrella insurance to cover your net worth. This includes all your taxable assets, like savings, investments, and properties other than your main home. Tally up the value of your stocks, bonds, rental properties, and any other significant assets. This total is the minimum amount of coverage you should aim for. It ensures that if you’re faced with a major lawsuit, your hard-earned savings and investments are protected from being wiped out. Taking this step helps you build a financial safety net that truly covers what you’ve worked so hard to build.
Review the Company’s Financial Strength and Claims Process
An insurance policy is only as good as the company that backs it. You need to choose a financially strong and reputable provider with a reliable claims process. Look for companies with high financial strength ratings from agencies like AM Best. This tells you they have the capital to pay out large claims without issue. Just as important is their reputation for customer service. You can check customer satisfaction ratings to see how a company handles claims. When you need to use your insurance, the last thing you want is a difficult or slow process. At Feld Insurance, we pride ourselves on being a trusted partner you can count on.
Why You Shouldn’t Choose a Policy on Price Alone
It’s tempting to grab the cheapest quote you can find—we all love a good deal. But when it comes to protecting your financial future, the lowest price can be a red flag. A cheaper policy might have significant gaps or lower limits, leaving your assets exposed when you need protection the most. The entire purpose of an umbrella policy is to provide a massive safety net, so a plan that falls short isn’t a bargain. True value comes from having tailored coverage that matches your specific needs and the confidence that your insurance provider is financially strong enough to handle a major claim. Choosing a policy based on price alone can give you a false sense of security, which is far more costly in the long run.
Look for Bundling Discounts and Policy Requirements
Before you can buy an umbrella policy, you’ll likely need to meet a few prerequisites. Many insurers require you to have certain high limits on your car or home insurance before they will sell you an umbrella policy. For example, you might need at least $250,000 of bodily injury liability coverage on your auto policy. Additionally, most providers require you to have your underlying home and auto insurance with them to offer an umbrella policy. The good news is that bundling policies with one provider can often lead to significant discounts, making your overall insurance package more affordable. It’s always a good idea to ask about these requirements and potential savings upfront.
What Isn’t Covered by Umbrella Insurance?
Umbrella insurance is a fantastic tool for extending your liability coverage, but it’s not a catch-all policy. Understanding its limitations is just as important as knowing its benefits. Think of it as a specific type of protection designed for major liability claims, not for every possible financial setback. Knowing what isn’t covered helps you ensure you have the right policies in place for complete protection, preventing any unwelcome surprises if you ever need to file a claim.
The main purpose of an umbrella policy is to protect you from lawsuits when you’re held responsible for injuring someone else or damaging their property. It kicks in after you’ve exhausted the liability limits on your primary home or auto insurance. However, there are a few key areas where it won’t step in. Let’s walk through the most common exclusions so you have a clear picture of how your coverage works.
Your Personal Injuries or Property Damage
This is a common point of confusion, so let’s clear it up: an umbrella policy is designed to cover other people’s damages, not your own. If you’re injured in an accident or your home is damaged in a storm, you’ll need to turn to your health insurance or standard homeowners policy. Umbrella insurance is strictly for liability. It protects your assets if you’re sued for causing bodily injury or property damage to a third party. It doesn’t cover your personal medical bills or repairs to your own car or house.
Intentional Damage or Criminal Acts
Umbrella insurance is there for accidents and oversights, not deliberate actions. If you intentionally cause harm to someone or damage their property, your policy won’t cover the resulting legal fallout. The same goes for any liability that stems from criminal behavior. For example, if you were convicted of a crime, your umbrella policy would not cover court-ordered restitution or punitive damages. Insurance is built on the principle of covering unforeseen events, and intentional or illegal acts fall outside of that scope.
Lawsuits Related to Your Business
Your personal umbrella policy is meant for your personal life. It typically does not cover any liabilities related to your business activities, even if you run your business from home. For instance, if a client slips and falls in your home office or you face a lawsuit related to your professional services, your personal umbrella policy won’t apply. For that, you’ll need separate business insurance, which can include a commercial umbrella policy to provide that extra layer of liability protection for your company.
How to Decide If You Need Umbrella Insurance
Deciding if you need another insurance policy can feel overwhelming, but figuring out if umbrella insurance is right for you is simpler than you might think. It’s not just for the ultra-wealthy; it’s for anyone who wants an extra layer of security for the life they’ve built. If a major accident happens and the liability costs exceed what your standard home or auto policies cover, umbrella insurance steps in to protect your assets and future earnings.
To figure out if this coverage makes sense for you, you just need to look at three key areas of your life. Think of it as a quick financial and lifestyle check-up. By taking a clear look at what you own, what you do, and what you have to protect, you can make a confident decision. Let’s walk through it step-by-step.
Step 1: Calculate Your Net Worth
First, let’s get a clear picture of your financial landscape. Your assets are more than just the cash in your checking account. Grab a notepad and start listing everything you own of value. This includes your savings, investment accounts, retirement funds, and any properties you own besides your primary home, like a vacation cabin or rental property.
The goal here is to get a rough estimate of your net worth. A good rule of thumb is to have enough umbrella coverage to protect all of these hard-earned assets. You might be surprised by how quickly it all adds up. This isn’t about being intimidated by the number; it’s about understanding exactly what you need to protect your financial future.
Step 2: Evaluate Your Personal Risks
Next, think about your daily life and activities. Certain things can increase your risk of being involved in a lawsuit, even if you’re incredibly careful. Do you have a swimming pool, a trampoline, or even a friendly dog that might accidentally nip someone? Do you have a newly licensed teenage driver in the house? Do you enjoy hosting parties, coaching a local sports team, or serving on a non-profit board?
These are all common parts of a full and happy life, but they also represent potential liability risks. Being a landlord is another big one. You don’t need to change your lifestyle, but acknowledging these risks helps you see where the liability limits on your standard policies might fall short, leaving you personally responsible for the difference.
Common Lifestyle Risks to Consider
Let’s break down some of the most common risk factors. Owning things like a swimming pool or a trampoline automatically puts you in a higher-risk category. The same goes for having a newly licensed teen driver in the family—their inexperience on the road can lead to serious accidents. If you’re a landlord, you’re responsible for the safety of your tenants and their guests on your property. Even activities that seem purely positive, like coaching your kid’s soccer team or hosting frequent get-togethers with friends, can expose you to potential lawsuits. These are all normal, wonderful parts of life, but they are also situations where you might face a higher risk for lawsuits. Recognizing this doesn’t mean you have to stop living your life; it just means you need to be prepared.
Step 3: Choose Your Coverage Amount
Now, let’s put it all together. Experts generally recommend getting an umbrella policy with a limit that’s equal to or greater than your total net worth, which you calculated in the first step. Most umbrella policies start at $1 million in coverage and go up in $1 million increments from there. This might sound like a huge number, but the peace of mind it provides is invaluable.
You don’t have to figure out the perfect number on your own. The final step is talking with an expert who can look at your specific assets and lifestyle risks to recommend the right amount of coverage. We can help you find a policy that fits your life and budget, ensuring you’re protected without being over-insured. Feel free to contact us to get a personalized quote.
Consider Your Future Plans and Income Growth
Your umbrella policy shouldn’t just protect the assets you have today; it should also safeguard your financial future. Think about your career path, potential salary increases, or plans to invest in property down the road. As your income and net worth grow, so does what you stand to lose in a lawsuit. Choosing a policy that accounts for this potential growth is a forward-thinking strategy. It ensures your coverage doesn’t lag behind your success. This extra layer of security is designed to protect you from major claims that could otherwise jeopardize the future you’re working so hard to build, giving you the confidence to pursue your goals without worry.
Managing and Reviewing Your Policy
Once you have your umbrella policy, the work isn’t quite done. Insurance isn’t a “set it and forget it” purchase. Your life is always changing, and your coverage needs to evolve right along with it. Think of your policy as a living document that requires regular check-ups to ensure it’s still providing the right level of protection. Managing your policy is an active and empowering part of your financial strategy. A quick review each year can make all the difference, ensuring your safety net remains strong and reliable, ready for whatever comes your way. It’s a simple step that provides lasting peace of mind.
Why You Should Review Your Coverage Regularly
A good rule of thumb is to review your umbrella policy annually, or whenever you experience a significant life event. Did you get a major promotion, buy a vacation home, or inherit assets? These changes increase your net worth, and your coverage should be adjusted to match. Other triggers for a review include getting married, having a child start driving, or even buying a boat. The goal is to always have enough umbrella insurance to cover your assets and protect your financial stability. A quick conversation with your insurance agent can help you determine if your current policy still fits your life, ensuring you’re never left underinsured.
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Frequently Asked Questions
Do I really need umbrella insurance if I’m not a millionaire? This is the most common question I hear, and the answer is a definite yes. You don’t need to be wealthy to be sued for more than your standard insurance covers. Think about your future earnings—a major lawsuit could result in wage garnishment for years to come. Umbrella insurance is about protecting not just what you have now, but everything you’ll work for in the future.
Does an umbrella policy cover incidents that happen when I’m traveling? Yes, and this is one of its most valuable features. Your liability doesn’t stop at your property line or even the country’s border. An umbrella policy typically provides coverage worldwide. So, if you’re found at fault for an accident while driving a rental car on vacation abroad, your umbrella policy can step in once your primary insurance limits are reached.
What happens if I have my home and auto insurance with different companies? Most insurers require you to have your underlying home and auto policies with them before they will sell you an umbrella policy. While this might seem like a hassle, it’s actually a huge benefit. Bringing all your policies under one roof simplifies your life and often qualifies you for significant bundling discounts, making this crucial protection even more affordable.
Is getting a quote for umbrella insurance a complicated process? Not at all. It’s actually very straightforward. The process usually involves a quick conversation to review your current insurance policies, take stock of your assets, and identify any unique lifestyle risks you might have. An experienced agent can walk you through it in no time and give you a clear picture of what your personalized coverage would look like.
Will my rates go up if I have a teenage driver? Factors that increase your risk, like having a newly licensed driver in the family, can influence your rate. However, this is precisely the time when having an umbrella policy is most important. The added risk is exactly what you’re insuring against. The modest increase in your premium is a small price to pay for the immense financial protection it provides during those higher-risk years.
