Life

Life insurance protects your family and loved ones' most valuable asset…… You. A life insurance policy can make sure that their financial needs will be met, even after you are gone. Life Insurance is the best love note you could leave to your family. It says that you loved them so much that you took the time to protect them when you couldn’t be here to protect them yourself. Some people ask, How do I know if I need Life Insurance?

Life Insurance can be purchased in two ways:

Permanent Policy
- Lifetime protection
- Builds tax-deferred cash value
- Withdrawals and loans available if needed
- Policy can be surrendered and cash value will remain yours
- Premiums are fixed
- Beneficiaries get death benefit income tax free
Term Policy
- Temporary insurance for the time you specify (1-5-10-15-20-30 years)
- Least expensive insurance protection
- Can be used as additional insurance protection if a permanent plan is also owned
- Some policies can be converted to a permanent plan
- Beneficiaries get death benefit income tax free

Life Insurance pricing is usually based on:

Gender
Age
Health
Amount of Death Benefit
Type of Policy selected (Permanent or Term)

How do I know if I need life Insurance?

If you are the primary income provider to your family, you need a life policy to replace your income in the event of your death.
If you aren’t the primary income provider, you should consider a life policy to assist with the bills that would occur to replace your family duties in the event of your death. Such as childcare, maid and food preparation service, and funeral expense.
Additional usages for Life Insurance:
- Unpaid medical bills
- Burial Cost
- Mortgage Balance
- Future college funds for your children
- Loans on cars, boats, etc
- Retirement Income for your spouse or partner
- Even if you are single, your final expenses will be deducted from your estate value. Therefore, reducing any amount that you plan to leave to your descendants. A life policy will prevent this from happening.