Life Insurance
It's amazing how many people are uninsured, or underinsured, on their lives - especially when most have so much to protect. Life insurance isn't about creating wealthy beneficiaries - it's about protecting things that would have to be forfeited if the source on which they were dependent suddenly disappeared.
Life Events That Trigger A Need
-
Recent marriage/divorce
-
Recent purchase of a home
-
Birth of a child/grandchild
-
Businessowners/partners
-
Caring for a disabled child
-
Planning for education
-
Health issues arise
-
Planning final expenses
Home Mortgage
A proper amount of life insurance eliminates what would be the increased financial burden on a surviving partner and can also provide funds that would offset the lost income and/or pay for increased childcare expenses. Smart planning makes it possible for the surviving family members to live the life that was intended, in the place that it was intended to be lived.
College Education
Saving for college is a disciplined process requiring a portion of every paycheck to be set aside. Even then, accumulated savings may have to be combined with student loans in order to cover the cost. The sudden loss of an income in the family changes the plan. The result could range anywhere from having to attend a lesser school due to affordability, to graduating with unmanageable student loan debt, or even foregoing college altogether. Planning for the unforeseen with life insurance keeps the originally intended plan in place with no increased financial burden.
Business Continuation
When two or more people are essential to the income of a business, there is a major disruption, or even dissolution of the company, when one unexpectedly passes. The correct calculated amount of life insurance on the key people in the business will ensure it will remain financially sound and viable while adjusting its plan to replace the lost key person.
Guaranteed Life
Guaranteed Issue Life Insurance is an amazing vehicle for individuals who have suffered serious health conditions, making them ineligible for traditional life insurance. It can also be used in planning for your final expenses. While not the most pleasant topic to think about, preparing your finances for when you pass, helps your loved ones grieve without the increased stress of having to pay for the costs associated with a proper service.
Many Other Types
To sum it up, there are many reasons for life insurance other than the few examples mentioned above. Any time there are goals to be met or plans to be made that depend on a person's income or savings, life insurance is the vehicle that ensure those goals and plans will be achieved as intended. Whether a whole life or a term life policy fits your situation best, our advisors can assist you with the process that is sufficient for your plans and goals.