While it’s difficult to face our own mortality, planning for it can ease the burden our loved ones will face later. Purchasing life insurance can help make a difficult situation easier by providing death benefits for:
- Unpaid medical bills
- Income replacement for survivors
- Final expenses like burial costs
- Unplanned or emergency expenses
- Your mortgage balance
- Future education funds for your children
Life insurance is an essential part of financial planning. One reason most people buy life insurance is to replace income that would be lost with the death of a wage earner. The cash provided by life insurance also can help ensure that your dependents are not burdened with significant debt when you die. Life insurance proceeds could mean your dependents will not have to sell assets to pay outstanding bills or taxes. An important feature of life insurance is that no income tax is payable on proceeds paid to beneficiaries.
Many times we don’t pay enough attention to the coverage of our health insurance. Either we don’t understand the lingo, or we don’t read those thick binders that come with our policies. On the other hand, claim time is no time to find out the coverage you thought you had isn’t the coverage you need.
Bring in your policy, and let us explain what you have. We can describe your coverage in lingo you can understand and give you an offer that’s better suited for your family’s needs.