The younger and healthier you are, the easier it is to get life insurance at lower rates. If your income is important to supporting dependents, planning for your future, sending your children to college, paying the mortgage or other recurring bills – life insurance is worth talking about.
3Â TYPES OF LIFE INSURANCE
Term
Permanent
Universal Life
What type of insurance should you buy?
We can help in a heartbeat!
Provide for Your Family’s Needs
Like most parents, you want to be sure your kids are well taken care of, have opportunities for growth and can afford a quality college education. For this reason, life insurance is absolutely essential while your children are still at home.
Pay For Final Expenses
The average cost of a funeral and burial can easily run into tens of thousands of dollars. With proper life insurance your spouse, parents, or children won’t need to suffer financially upon natural or accidental death.
Make Life Easier for Your Spouse
A life insurance policy pays a tax-free cash benefit to your beneficiaries upon your death. In situations where two parents working, or one parent is a stay at home mom or dad – income replacement may be an immediate necessity. If you have young children you may also need to hire help for domestic tasks and childcare.
Pay Off Household Debts
In addition to providing income to cover everyday living expenses, your family may need life insurance to cover debts like a mortgage so they won’t have to sell the house to remain financially stable.
Pay Your Estate Taxes
Some estate taxes can be steep, so having insurance in place avoids jeopardizing assets or funds that are earmarked for the retirement of your significant other, or bequests left to loved ones.
What type of insurance should you buy?
We can help in a heartbeat!
Life insurance provides you with coverage options and choices that add up to greater control over your mortgage protection. See how individually owned life insurance provides you with more options, choices, and control when compared to mortgage insurance offered by your bank or lender.
