LIFE INSURANCE- RETIREMENT - SENIOR BENEFITS
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LIFE INSURANCE
Peace of mind comes from knowing that those who depend on you will be cared for in your absence.
Do I need Life Insurance?
- If you have someone, or a group of people who depend on you either for financial, or even physical support, who's life would be altered by your absence you should consider getting life insurance.
Here are a few examples of dependence:
- You are married and your spouse depends on you for financial support
- You have children that are financially dependent upon you
- You have children that you would like to send to collage
- You have parents or in laws who are aging, or otherwise disabled you provide for
- Your retirement savings, and other cash or savings accounts will not provide your loved ones with the financial support required upon your death.
- You expect to owe taxes on your estate.
- You own a business
- You would like to make a donation to a charity or a school upon your death.
Life insurance provides
those depending upon you with the money they require to maintain themselves upon your death. Including:
- Help Maintain your family by replacing your income upon your death
- Provides full or supplemental retirement income for your spouse or partner
- Pay for assistance for everyday tasks that are generally provided by you including child care, care for an elderly or disabled relative, maintaining the yard and home etc.
- Enabling your family to pay off their debts, protecting their assets including their home
- Providing a child enough money to obtain a college education
- Pay off debt allowing a small business to remain in the family
- Pay your burial costs, estate taxes, and all last expenses.
- Fund the settlement of an estate
Life Insurance also can give you living benefits:
- Some carriers allow you to receive up to 50% of your death benefit while you are still living. This is to assist you if you have been diagnosed with a Chronic/Critical or Terminal Illness.
Life Insurance can build cash value:
- Many people use different types of Whole Life Policies as tax free wealth building strategies.
Do I need to adjust the amount of Life Insurance I have?
As your finances change, you should reevaluate your life insurance needs.
Some things you may want to take into consideration include:
- Have my finances changed as a result of: A change in employment? Or retirement? Loss of a second income The purchase, sell or refinancing of a home
- Have my goals changed by way of: Marriage or divorce? Have you had new children? Or have older children moved away from home? Do you have more or less dependents?
Types of Life Insurance
There are two basic forms of Life Insurance. Term and Whole Life (Permanent).
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Because there are so many choices available for life insurance, and many companies that provide the benefits, it is important to research all of your options. Some companies offer the similar coverage for double the price as a competitor. Because we are Independent Insurance Brokers, we have the ability to do business with any and every company that offers Life Insurance.
We're here to assist you in finding the company that will offer you the most amount of coverage at the least cost for your needs and budget!