Life insurance is a crucial step in planning for your future and the future of your loved ones. It can fulfill promises made to your family if you are no longer around by providing a death benefit to your beneficiaries in return for premiums paid to the insurance company. Life insurance provides tax-free money to your named beneficiary(s) that can be used to pay for funeral expenses, debt, tuition, estate taxes or virtually any financial need you leave behind. The amount of life insurance you select should be dependent on your personal and financial needs. We can assist you in determining an appropriate coverage amount and help you decide which term life policy is right for you.

You should consider life insurance if you have any of the following:

  • A spouse
  • Dependent children
  • Mortgage
  • An estate
  • Own a business
  • Aging parents or a physically-challenged relative who depends on you for support
  • Retirement savings that is not sufficient to ensure your spouse’s future financial well being

Term Life Insurance

Term provides life insurance protection for a specified period of time. If you do not currently have life insurance, term can be a good place to start. It’s generally less expensive than permanent life insurance, and is available in varying term periods with fixed premiums from a one- (annual renewable term) to 20-year period (level term). Furthermore, term insurance is sometimes convertible to permanent coverage, providing you with flexibility as your needs change.

Life changes

As events happen in your life, your life insurance coverage may need to change to adapt to your current needs. Some life changes that may require you to reevaluate your coverages include: marriage, divorce, a new baby, purchase of a new home and retirement.