Life insurance will protect your family or business and create financial stability and security when it is needed most. In the event of your passing, life insurance provides financial liquidity to your beneficiaries so there is no financial stress on top of the emotional distress.
- Replacing lost income and keeping your family or business financially secure
- Paying off any debts (Mortgage, Business debt, cars etc)
- Funding your children’s education
- Covering funeral and related costs
- Estate planning, creating a tax-free transfer of wealth
How much Life insurance do I need? Please utilize this life insurance calculator
What type of life insurance is right for you? The most important thing in Life Insurance planning is to have enough Protection in place so your family will be able to remain in their same world financially. Most families don’t want to have to move, eliminate their children’s activities or borrow money to send their children to college. Typically it takes 10-14 times the breadwinner’s income to accomplish financial security.
Term Life Insurance can provide a large amount of coverage for a very reasonable premium. Permanent Insurance can be designed to last a lifetime and be paid-up at retirement age. Most people have a large need while their children are under their care and a lessor need once they are retired. Typically a combination of Term Insurance (take care of the large need with children, mortgage, college funding) and permanent life insurance (legacy planning, reimburse surviving spouse/estate for spending down assets for long-term care expenses) makes the most sense, Consult with Paul or Dallas today to help determine the best type of life insurance for your specific situation. We are here to help you make a decision that’s right for you!
Click to learn more about Permanent Life Insurance plans, or Term Life Insurance plans.