If you have a family to protect, a sound life insurance program is the perfect solution.
There are two basic types of life insurance needs: temporary and permanent.
Temporary needs include home mortgages, short-term debt reduction, family income and educational expenses. Plans can last as little as one year or as long as 30 years. Term insurance is the most cost effective method of insuring many short-term needs and there are a variety of plans to choose from.
Permanent needs include those that last for your entire life or potentially for periods of 15 years or more. Permanent insurance needs include final expenses, funds to cover estate taxes and retirement savings protection. Permanent and universal life plans are ideally suited for meeting these goals.
The primary purpose of life insurance is to provide cash for your family in the event of your death to ensure that they can remain in their home and continue to maintain an adequate standard of living.
Reasons to purchase life insurance:
Keeping a Home In The Family
Eric and Stephanie are working on paying down their mortgage. If something happens, they wouldn't want their children to lose the home because of their debt.
Leave Them With Memories, Not Bills
Chris is the primary source of income for his family. He worries how his family would make it if something were to happen to him. He wants to make sure that all of his medical bills and funerals costs are covered so that his family doesn't have to worry about it.
Safeguarding Your Family's Lifestyle
Tom and Gloria each contribute to their growing family. They want to make sure that the income needed for their family stays even when they are gone.
What If College Dreams Are Cut Short
John and Ashley are proud of their son who just started college. If something unfortunate were to happen, would they be able to pay back student loans?