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Life Insurance

Most advisors agree that life insurance is the foundation of a solid financial plan. No other product creates the security, guarantees, and cash benefits, with tax advantages, that life insurance does.

Yet, it's estimated that 43% of American households have no life insurance at all. And of the households that do, 52% believe they should have more. These statistics reveal that 3 out of 4 Americans are underinsured.

Shopping for life insurance is not as simple as most people think. There's a wide variety of companies and products, and to find the plan that's best for you takes some time and good advice. Having the right plan for your situation can make all the difference in the long run.

There are a lot of reasons to use life insurance in your financial planning;

  • Income for dependents; young children, older children, parents, spouses.
  • Income replacement
  • Pay off the mortgage and other loans
  • College funding and college debt
  • Business buy-sell
  • Retirement planning
  • Recoup investment losses
  • Reimburse surviving spouse for Long Term Care medical expenses.
  • Final expense: taxation of estate, inflation, charity.
  • Special needs of family members.

These are some of the considerations in selecting the right life insurance plan;

  • Correct face amount.
  • Flexiblity to change the face amount.
  • Length of time that premiums are guaranteed.
  • Term insurance for 5-40 years.
  • Permanent, lifetime coverage.
  • Option to build cash value.
  • Option to have premiums refunded.
  • Waiver of premium in case of disability.
  • Special underwriting considerations.
  • Payment of claims
  • Financial strength of the insuring company.

With professional advice, life insurance will provide immediate protection, lifelong security, and tax advantages. Please call or email me with any questions.

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Helping you plan for a rainy day.