About Life Insurance
Thinking about the future can mean many things for different people. From school to careers, and from family to retirement, the possibility of the future can be so very bright.
One part of the future that many of us don't want to think about, however inevitable it might be, is death. However, to protect the ones you loved it's absolutely worth thinking about. Death of a loved one can bring financial suffering and stress to those who are left behind. A life insurance policy can assure that your loved ones are properly taken care of once you are gone, and will provide your loved ones with a lump sum of cash upon your death, income tax-free.
There are three basic types of life insurance, and you select the amount of coverage that best fits your needs.
• Term Life Insurance - Often the most affordable coverage, it's also the most basic type of life insurance and pays the benefits upon your death.
• Universal Life Insurance - This type is very flexible and guarantees coverage for life as well as build cash value that can even be used to supplement retirement income.
• Final Expense Life Insurance - Life insurance that will only cover the expenses associated with passing away including: funeral costs, travel expenses, bills and taxes.
• Single Premium Life Insurance - Given in exchange for one premium payment, this type of insurance allows you to build more cash value than other options, and you won't have any other further premium payments.
In many of the plans Living Benefits is also included. This will provide you up to 97% of the death benefit should you end up with a terminal illness or are confined permanently to a nursing home.
Things To Think About
Many people think they don't "need" life insurance. Here are some things to think about.
• You can say all day that you don't need life insurance, but can you say that your family won't need it when you're gone?
• Life insurance is a shield to meet the blow that you can't see coming. It's also the only plan that will guarantee a known sum at an unknown time.
• Just because you stop working doesn't mean you stop loving your wife, childrean & grandchildren, right?
• Would any of your loved ones suffer financially if you died? Either by their own expenses or by your final expenses?
• Do you own a business? You'll want to ensure that your family gets fairly bought out of their share.
• Could I ease my loved ones expenses after I'm gone? Including rent, mortgage, food, clothing, transportation.
• Will your partner or loved one struggle to provide for your children?
• Do you have a large amount of debt that you could pass on to your loved ones once you pass away? These include student loan payments, house payments, car payments, credit cards and loans.
Please think about these and give life insurance serious consideration. Contact Findelis if you currently don’t have life insurance or your current policy is older and needs to be updated.