No one wants to dwell on an untimely end. It is human nature to avoid difficult tasks, but have you thought about what happens if you die unexpectedly? Life insurance seems to reside in the “someday” part of your task list. Our team at Independent Insurance Associates offers five compelling reasons to move this discussion to the top of your to-do list.
1. How Does Life Insurance Work?
What happens financially to your family and loved ones if you die? How will living expenses be paid? Will your family be protected and secure where they live without your income? The solution is a thoroughly prepared life insurance policy.
With foresight and preparation in place, your family will benefit quickly with funds from your plan if the unimaginable happens. Unlike a will, where there may be delays with probate and various legal procedures, benefits are generally tax-free and offer immediate liquidity. Purchasing an insurance policy will give you peace of mind and one less worry for the important people in your life.
2. How Much Life Insurance Do I Need?
Life insurance is designed to allow your beneficiaries to move forward financially in the event of your unexpected death. Every policy is a personalized product, taking into consideration your relatives and, if you own a business, your partners and employees too. Ask yourself how you will fund the necessities that others need if you are gone. These are just two subjects to explore when it comes to buying life insurance.
3. How Much Is Life Insurance?
Buying a life insurance policy is more affordable than you think. Having a face-to-face discussion with an agent will open your eyes to all kinds of issues you have never considered. The cost of your policy depends on the projected needs and how you decide to cover your assets and obligations. Your Independent Insurance Associate can help you determine what type of plan allows the best return for your insurance investment.
4. Is Life Insurance Worth It?
If you are single and have no dependents, you may think you don’t need life insurance. After all, most of the marketing and advice columns picture happy parents with children and emphasize those obligations. Guess what? You have people that count, financial commitments and you may also own a business that could benefit from receiving the assets you have accrued in life. What are the ramifications of who and what is left behind if you die unexpectedly? It’s hard enough for those who are mourning your loss, imagine the burden of clearing your financial obligations too. Life insurance is worth it if you have people that matter, a business that should be able to carry on without you or financial obligations that could be a burden to those left behind.
5. How Do I Decide On The Right Policy?
There are two types of life insurance policies, called term and whole life. Term life insurance lasts for a specified period of years and is less expensive over the life of the policy. Whole Life is also called permanent insurance and is often considered a wealth-building tool. Working with a qualified local agent is the best method to understand which type of coverage is right for you.
Choosing to purchase a life insurance policy should be a top priority for any individual with loved ones and financial obligations. As your local Independent Insurance Associates, we take the time to evaluate your needs both personally and professionally and present a variety of options to fit them. Contact us to make an appointment to discuss your life insurance needs. We are committed to your peace of mind and making sure you know what your policy covers should the unthinkable happen.