Why Life Insurance?
Financial Planning must start with a goal, and then a plan. With any plan, there are basic building blocks. In financial planning, one basic is savings. Another is investments. However, these two depend on your having the time to accumulate an estate by saving and investing. Life insurance is the basic building block which insures that you won’t run out of time to accomplish your goals. If you don’t complete your savings or investment planning due to premature death, life insurance completes it for you. For that reason, some call it “Time Insurance”. If you have someone or something which you love, and your premature death would cause them or it economic difficulty, then you need life insurance.
How much life insurance do I need?
We offer different tools to help you assess your needs, but a basic concept anyone can use involves the acronym DIME. Each letter represents a significant need in most folk’s lives.
D – Death Expenses- money for a funeral and other final expenses.
I – Income for your family to live on now that your income is gone.
M – Mortgage payoff. No debt should ever live longer than the person who made it. When you die, your mortgage should die with you.
E – Education funds for your children to prepare them for life.
If you provide adequate funding for these 4 basic needs, you’ve taken a great step forward in protecting your family from economic disaster.
What kind of life insurance policy do I need?
There are several different kinds of life insurance, and for that reason we recommend a Life Insurance Needs Review periodically with a qualified agent. Just as your plans must change as life happens, so must your life insurance needs be reviewed.
We carry the following kinds of life insurance policies:
- Term Insurance
- Universal Life Insurance
- Whole Life Insurance
- Indexed Universal Life Insurance
- Single Premium Life Insurance