Life Insurance

Life Insurance Concepts 

Sometimes it is hard to admit “I will die someday.”  The primary and most obvious reason to buy a life insurance policy is to give yourself and your family “peace of mind.”  Knowing that there is a financial safety net is a wonderful reason to own life insurance.  If you have ever experienced a death in the family, then you surely know the stress involved with the details.  A life insurance policy can provide the funds to help take care of many of those stressful financial details. 

What is the best life insurance plan?  Basic whole life; universal life; variable life; modified life; joint life or an assortment of different term life insurance plans can be your best choice.  Those choices can be narrowed down to the amount of coverage needed and the ability to pay.  In today’s life insurance market there are plans to fit almost any individual or family budget. 

  • Basic whole life insurance can be designed to help take care of “final” expenses.  These plans range from $2,000 to $50,000 face amounts. 

  • An important need is to help the remaining family have enough funds to handle their continued financial needs, especially a spouse or perhaps a loved one that is not capable of supporting themselves. 

  • Many of us have the desire to leave our church or fellowship organization a financial sum to help remember us and to acknowledge their help in shaping our lives. 

  • Perhaps you have acquired wealth – life insurance can give you a method to provide a “tax free” way to pay for those estate taxes without liquidation of a valuable asset.  Also, while waiting for your estate to be released from probate, life insurance can provide valuable funds for your family to continue their lifestyle. 

  • Many see the need for life insurance and also the need for Long Term Care coverage.  Some life insurance plans can provide an extra valuable benefit if the insured is confined to a Nursing Home. 

There are numerous other reasons for life insurance; again “peace of mind” is a primary goal.  I have seen families that take pride in the family gathering at birthdays, holidays and other special occasions completely fall apart due to a lack of funds available at the death of a loved one.  Age and health issues affect the pricing of life insurance.

If you are interested in additional information please email or call me and we can discuss!