LIFE
Why Buy Life Insurance?
"Whatever excuses you have for not buying life insurance now will only sound ridiculous to your widow" Unknown
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As my grandfather used to say, there are only two certainties in life - death and taxes. Unfortunately we don't have insurance for taxes (yet). But we do have life insurance.
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REASON 1 - Funerals aren't free (They average around $10,000)
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REASON 2 - Someone has to pay your debts - including any end-of-life medical bills
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REASON 3 - Your kids and widow shouldn't lose their house is something happens to you
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REASON 4 - It's the cheapest and easiest way to increase the inheritance you leave behind
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"You don't buy life insurance because you are going to die, but because those your love are going to live."
Term Life
Term life is like renting a house - you pay a flat amount every month for a defined period of time, and when the contract is over you don't own anything. Term life is more affordable, easier to understand, and easier to get than whole life. This is the most common type of life insurance that works in virtually any situation.
Whole Life
There are various types of whole life insurance, from straight life insurance to policies that accrue value and function as an investment vehicle. Deciding which type of whole life policy would be best for you depends on a variety of factors that are unique to each individual. Call for a consultation to see if whole life is right for you and to find the right plan.
Final Expense
Final expense policies are essentially burial policy - enough to cover the cost of a funeral and maybe a little bit more. These are whole life policies that are generally only available to those over 40 or 50 years old, depending on the carrier. In most cases, your beneficiaries will collect more in the payout that you will pay in premiums, making them a very smart use of money. There are few opportunities in life to get more than you paid for - this is one of them.
