Do you need Life insurance?
The short answer is that if you have any dependents, or if anyone will suffer financial hardship because of your death you need life insurance. Where would your family get the money to pay for all the day to day expenses, how would they pay the funeral expenses, will your kids still be able to go to college, will they be able to stay in the same house or will they have to move? The reality is that loosing a loved one can be a hard enough as it is, without the emotional stress that financial difficulties can add. Can you imagine your family having to move from your house, your kids having to go to a different school, make new friends, all this while mourning your loss.
Buying life insurance is not fun. Nobody enjoys thinking about their death, but buying life insurance is probably one of the most important decisions for your family’s financial protection. Life insurance can help you family in the event you were to die unexpectedly, by providing a lump sum of cash that can be used to pay the bills, pay the mortgage, fund your kids college education, and much more. Life insurance gives you the peace of mind that if you were to die prematurely, your family can fulfill all the dreams you had for them, even after you are gone.
We have put together valuable information to assist you in making informed decisions regarding the care and protection of you and your family. In our Insurance Center you will find important information on the different types of Life Insurance, Business Insurance, Disability Insurance, Mortgage Insurance, Long Term Care plans, and Annuities.
Why should I buy life insurance?
Life insurance provides tax free cash for a family or a business when someone dies. Of course it can never replace that person, but it can continue that person’s income stream…
Caring, responsible people buy life insurance because they love someone or they owe someone. A liability should never outlive the person who created it.
It takes more than money and good health. It takes a combination of caring, common sense, character, commitment and communication. The communication is in understanding the impact of the economic loss one’s death creates.
Life Insurance is not an investment. However, it compares very favorably with conservative investments such as bonds, money market funds, and other cash reserve funds. Over the long haul, twenty years or more, a competitive cash value policy will normally have a 5%-8% tax-deferred compound rate of return.
1. Cash for your family if you die prematurely.
2. Cash to supplement your retirement income.