Why do I need life insurance?
Life insurance helps provide something we all need-financial security! Think about your personal financial situation. Would your family be able to financially survive without your income? Are you saving enough for retirement?
We can help you make the road to financial security smoother by making educated choices today.
“I have enough life insurance coverage already.”
Do you know how long your family’s money would last if you weren’t there? Living expenses add up quickly.
“I’m already covered at work.”
The life insurance coverage provided by your employer usually only offers protection up to a certain age. That’s called term insurance. This type of insurance usually provides a death benefit which typically is not be enough to cover your family’s future needs. Also, in most cases, this coverage ends upon the termination of employment.
“My spouse doesn’t work, so he or she doesn’t need life insurance.”
Most people tend to think that since their non-working spouse does not earn an income, they don’t need life insurance. What they fail to realize is that he or she maintains the household by providing essential services that are very expensive to hire out. Just think about what it would cost to pay someone for child or elder care, cleaning, laundry, shopping, cooking, etc.
There are two types of life insurance to choose from:
Term Life Insurance
Term Life provides coverage for a specific term. This type of insurance is appropriate for covering consumer debt or your mortgage.
Permanent Life Insurance
Permanent Life provides coverage that you can’t outlive as long as you pay your premiums. Additionally, cash values accumulate tax-deferred and you may access them during your life tax free.
You may think life insurance is something you’ll purchase later, when you purchase your first home or begin a family. However, it’s never to early to put a plan together. Whatever your goals, life insurance is an essential part of your financial plan. We can help you figure out which insurance policies are appropriate for your unique situation, because what matters most is taking care of those you love.
Talk to us to find out how much life insurance you need based on your specific life situation.