Life Insurance for Individuals, Families and Business
Who Needs Life Insurance?
Most Americans need life insurance. To figure out if you need life
insurance, you need to think through the worst-case scenario. If you
died tomorrow, how would your loved ones fare financially?
Would they have the money to pay for your final expenses (e.g., funeral
costs, medical bills, taxes, debts, lawyers' fees, etc.)? Would they be
able to meet ongoing living expenses like the rent or mortgage, food,
clothing, transportation costs, healthcare, etc? What about long-range
financial goals? Without your contribution to the household, would your
surviving spouse be able to save enough money to put the kids through
college or retire comfortably?
The truth is, it's always a struggle when you lose someone you love. But
your emotional struggles don't need to be compounded by financial
difficulties. Life insurance helps make sure that the people you care
about will be provided for financially, even if you're not there to care
for them yourself.
Please call us to discuss your life insurance plan. Call: (800) 846-5902
How Much Do We Need?
Life insurance proceeds can help pay immediate
expenses including uncovered medical costs, funeral expenses, final
estate settlement costs, taxes and other lump-sum obligations such as
outstanding debts and mortgage balances. They can also help your family
cover future financial obligations like everyday living expenses, money
for college or your spouse's retirement, and so much more.
how do you know if you need $100,000, $500,000, $1 million or more? The
most common way to determine your life insurance needs is by conducting
what's called a Capital Needs Analysis.
Here's how it works.
Start by evaluating your family's needs. Gather all of your personal
financial information and estimate what your each of your family members
would need to meet current and future financial obligations. Then tally
up all of the resources that your surviving family members could draw
upon to support themselves. The difference between their needs and the
resources in place to meet those needs is your need for additional life
insurance (see diagram below).
may look simple enough, but calculating one's life insurance needs can
actually get pretty complicated. To make it easy for you to get a
general sense of your needs, check out our life insurance needs calculator. It'll walk you through the process and provide you with an estimate of your insurance needs in a matter of minutes
Life Insurance and Disability Income Protection: A pair of coverages you cannot go without.
Life Insurance isn’t just money for your survivors; it is also a supplement to your retirement, a college education, income for your loved ones, mortgage payments, and more. Your dreams and desires for the future of your heirs can still happen, even if you are not around to assure it. As a Life Insurance Agent, I can provide a review of your needs to determine appropriate coverage for you. Please call me to set up an appointment, and of course, feel free to contact me if you have any questions.
Common Needs for Life Insurance
Final Expenses, Emergency Funds, Mortgage Protection, Adjustment Period, Income Replacement, Daycare Expenses, Education Funds, Retirement Income, Estate Planning
Mortgage Protection This is simply term insurance that is purchased and earmarked to pay the mortgage when a homeowner dies.
Estate Planning Do you have a 401K, IRA, Money Market Account with $100,000 accumulated? Use life insurance to protect and increase the value of your nest egg to your heirs. Under current tax law, life insurance passes to your beneficiaries income-tax free. This avoids the cost and delays of probate.
Unique Needs for Life Insurance
Executive Bonus Incentives Supplemental Retirement Income Business Continuation Child Support Adoption Special Needs Family Member And more…. Please call me to set up an appointment to discuss your disability and life insurance plan.
Call: (800) 846-5902
Disability Income Protection - Protection for your Paycheck.
In the event of a disabling illness or injury, a disability income plan provides monthly income benefits directly to you to help pay your bills, mortgage payment, as well as everyday living expenses.
Four Groups Need Paycheck Protection. Are You in One of Them? Are you protecting your most valuable asset? Your most valuable asset isn't tangible. It's not your home, your car or your retirement savings — it is your paycheck.
Just how valuable is your paycheck? To find out, multiply your annual earnings by the years until retirement. By doing this simple equation, you can quickly see that your income far exceeds the worth of all your other assets combined.
The only way to protect your paycheck and your future is with disability insurance. Paycheck protection is of paramount importance to the following four key groups.
Baby Boomers – This group runs a high risk by earning the highest income and having the greatest debt load. Baby boomers could face financial ruin if an injury or illness takes them out of the workforce. The need for this group to insure their earnings is at an all-time high as 82 million boomers enter middle age. If you're a boomer, imagine how devastating it would be to work hard all your life and then lose everything just because you didn't have disability insurance.
The Sandwich Generation – This generation is defined by supporting both children and elderly parents. Typically already pinched financially, incomes and savings can be depleted if a disability stops the breadwinner from earning a paycheck. The wise move is to protect yourself and your family with disability insurance.
Single Parents and Divorcees – With limited incomes and large expenses, many newly single parents and divorcees don't have a backup plan to protect their earnings. This group's paychecks are important because of the single-incomes and no other earner for backup. As a single earner, it is hard to create enough savings to cushion for an injury or an illness. This is where paycheck protection comes in.
Business Owners and Self-Employed Individuals – Business owners and the self-employed have many advantages. However, one thing this group doesn't have is employer-sponsored group disability coverage. When many venture out on their own, they don't replace that lost coverage, which is a big risk. Because incomes and earning patterns for the self-employed are already unpredictable, their paychecks need protection, especially if an injury or illness occurs.
Do you fall into one of the above categories? If you do, get disability paycheck protection now. You must take action to protect your income and your future.