Buying Life Insurance
Buying Life Insurance is one of the most important wises decision on could ever make to secure your financial future to ensure your family is taking care of. Here is are a few ways life insurance can help other than funeral expenses:
- Mortgage Protection
- Income Replacement
- Retirement Planning
- Final Expenses
- Leaving an Inheritance
Mortgage Protection
Our Mortgage Protection provide the flexibility for your beneficiary to pay off your existing mortgage or use the benefit for whatever they desire. We provide you with a level term benefit for the term of your choice with a fixed level premium which never increase or decrease due to health reasons. Our policies come with living benefits which pays out even while you the policyholder is still alive. When considering mortgage protection one must consider exactly how much is owed on the mortgage and for exactly how long to determine the term of the mortgage protection.
What happens when or if you get injured on the job or while working in the yard or get into an accident while driving and you can no longer attend your normal work schedule. What happens when or if you become critically ill, chronically ill, or even terminally ill.
Your financial contribution to your family is vital. Without your income it totally shifts the current lifestyle you are currently living.
When considering income replacement one must consider how much one make annually and multiply it times the amount of years you want to remain active in your families life financially. Our policies pay out from 50% to 100% on all our claims according to severity of your condition.
Retirement Planning
Inside of your life insurance policy is called a cash-value account also known as the surrender value that grows taxed free income that can be withdrawn at a later date.
In most cases it takes anywhere from 15 to 20 years to see that the money you have accumulated has exceeded the amount of money you’ve invested in your policy.
You can also choose to invest as little or as long as you would like, but we advise our customers to invest for at least 15 years to see their money grow. The great thing about these policies is that they are indexed within the stock market, which means they are protected from the volatility of the stock market.
Final Expense
When you think of final expense, this not only take care of funeral expenses, but also the cost of any debt that the deceased have accumulated while living.
Most people do not take in to consideration that any and all unpaid debt will be passed to the family. To avoid repossession, foreclosures, or annoying calls, having life insurance will cancel any debt that the decease have accumulated, leaving the property as an inheritance to their loved ones.