People are hesitant about thinking about life insurance, because nobody likes to think of their mortality. But unfortunately, not preparing can be devastating to your family.
What is Life Insurance? |
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Insurance that pays out a sum of money either on the death of the insured person. Life insurance is designed to provide protection to your family in the event that something happens to you. The funds can be used to pay off debts, such as mortgage, credit cards, cars loans, bank loans, etc.; pay for college tuition for your children, pay for the cost of your funeral; and just to ensure that the day to day needs of your family can be meet such as food, water, clothing, etc. Doing a needs analysis is a great way to determine what your insurance needs are and to help us to find a product that will meet that need.
Types of life insurance:
- Term--has a set period of coverage time before policy can expire
- Whole Life--permanent coverage that can build cash value
- Universal Life--permanent coverage that can build cash value and interest is either fixed or based on the market
- Variable Life--permanent coverage where cash value is invested which can produce greater returns
- Final Expense--often called burial insurance-small policies to cover cost of a funeral
Who needs life insurance?
The simple answer is most everyone needs life insurance. If you have a spouse that depends on your income to make ends meet, if you have children that will need to be supported (sporting activities, food/clothing/shelter, first car, prom, college, etc.), if you support an elderly parent and they rely on you to pay for nursing home care or basic necessities, if you have a child with special needs that will have to a certain level of care provided or someone else to care for them if you are not there. These are just some of the situations that a person would need life insurance and there are many more. If you are heavily in debt, you don't want the financial burden to have to be carried by your spouse alone.
Why should I buy life insurance? |
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Insurance is important because it protects a person (or entity) from extreme financial loss or responsibility due to an unfortunate emergency, accident or negative unforeseen event. If you have people (spouse, children, parents, siblings) in your life that depends on your income, then you need to have life insurance. When you buy life insurance, you aren't just buying coverage. You are also getting peace of mind. Nothing is more important to you than your family, so protect them today.
How do I get started?
The answer is easy. Just contact me for a free, no-obligation quote to see what coverage could be right for you. Click the button to send me an email telling me a little about your situation and we will get started. Sometimes for cost per day of a coffee or a lunch out at a restaurant, you can provide valuable coverage for your family.
