There are certain financial commitments we have throughout our lives as we contribute in some way to our family income. We need to provide something even in death to secure our homes, help the family meet expenses for a while, protect dependent parents, or secure our children, spouse, significant other, or even provide a charitable contribution.
Financial obligations could include funeral expenses, unsettled medical bills, mortgages, business commitments, meeting the college expenses of the children, and so on. Frankly, dying without life insurance is a very selfish act since it leaves your expenses, bills, obligations, and the headaches that accompany them to someone else.
- Life insurance correctly planned will provide funds to deal with monies due, mortgages, and living expenses on an untimely or premature death. It offers protection to the family you leave behind and serves as a cash resource.
- It secures your hard earned estate on death by providing tax free cash to take care of business and personal expenses.
- Some policies have riders like coverage of critical illness or term insurance for children or spouse. There are certain rules regarding eligibility for riders which have to be kept in mind.
- Life Insurance can have a savings or pension component that provides for you during retirement; oftentimes, tax-free.
- Having a valid insurance policy is considered a financial asset which improves your credit rating when you need health insurance or a home or business loan.
- In case of bankruptcy, the cash value as well as death benefits of an insurance policy are exempt from creditors.
- Life insurance can be planned such that it will cover even your funeral expenses.
- Life insurance has double benefits in that it protects beneficiaries at your death and you have access to your money during strategic points in your life.
- Your business can be protected from financial loss or any liabilities in case a business partner dies.
- Life insurance can contribute toward maintaining a family’s life style when one contributing partner suddenly dies.
Insurance is vital to good financial planning and security. Personal and long term commitments must be assessed. There are so many profitable, flexible, and safe policies available. It is essential to meet with a qualified agent who represents a variety of companies and products.
Please give me call to set up a time to discuss your goals and to see what might be available to you to secure your and your family’s future.