Insurance Update Mini-Series: Your Life
If you’re looking at renewing your insurance policies, we have the series for you! Our last blog covered individual health insurance. Today we are all about your life and the people you will leave behind if something were to happen to you and you were not prepared. Life insurance is a simple concept: buy a policy that pays to your beneficiary or beneficiaries when you die. However, what kind life insurance to purchase, how much of a death benefit and how much you pay are extremely complex matters. What are your options? It’s more than a decision of how much to buy. Depending on your financial situation, life insurance can be used for a variety of purposes, such as:
- estate planning
- accumulating cash
- transferring wealth
- achieving estate tax liquidity.
Life insurance is like auto insurance in that you can buy a lot of it or not very much of it. They differ in the matter that in life insurance you can pay a lot or a little for basically the same death benefit. Keep in mind that the younger and healthier you are, the less you will pay for coverage. Think things through when considering your life insurance and give us a call for a free quote today!