Life Insurance

Life happens in a heartbeat. In one moment, one heartbeat – your life changes. Have you considered what would happen if you were no longer there to take care of your loved ones? While nothing can replace you, having life insurance means that if something happens to you, your loved ones would be OK financially. Life insurance is actually a gift of love.  Request a consultation and quote today.

1 in 5 people wished their spouse or partner had life insurance or more of it.1

29% say they would feel the financial impact from the death of a primary wage earner in one month. 1

38% of people have not bought life insurance or more of it because they’re unsure of how much or what type to buy. 1

How much life insurance do you need?

There are “rules of thumb” out there for determining how much life insurance you need, but for real peace of mind, one needs to truly evaluate your personal needs and situation. Your needs may change over time based upon your current financial status as well, so you will want to revisit your insurance strategy as your situation changes.

Use this tool to get a rough sense of how much life insurance you might need:

To customize your life insurance strategy and review your needs, request a consultation and quote today.

What type should you buy?

In addition to the amount of insurance you need, the type of life insurance you purchase is equally important. Term and Permanent are the two basic types of insurance policies and deciding which type is best suited for you will depend upon your particular situation.

Permanent insurance offers lifetime protection as long as the premiums are paid, and typically offers cash value accumulation that can be used as needs arise during your lifetime. The combination of death benefit and cash value may provide useful flexibility within a financial plan.

Term Insurance provides a guaranteed death benefit for a specified time period without any cash value benefit while living. Term policies often expire before the insured’s death without any death benefit being received. Premiums are typically initially less than the premium for an equivalent permanent policy.

This chart helps to compare the two types of policies.

It can be difficult to evaluate the relative benefits of a term policy against those of a permanent policy; however our advisors can help you understand how each of the types can help you achieve your protection goals. Request a consultation and quote today.

Who should you insure?

One expects the answer to be yourself and your spouse, or those who produce the income for the household. However, there are other situations that may warrant insuring a life other than the household income earners.

  • Consider the cost to replace the tasks of a non-working spouse.
  • Protect yourself from significant estate tax burdens should your parents die prematurely.
  • Consider the impact to your business should something happen to key employees.
  • You may need to prepare to buy your partners’ share of your business if anything were to happen to them.

Our team can help you craft a strategy to protect yourself financially with life insurance when life happens in that moment. Request a consultation and quote today.