Life insurance can provide a safety net for your family in the event of loss of life. Term insurance has modest premiums and lasts for a specific time, such as 20 to 30 years. It includes a death benefit, even though the policy expires at the end of the term and doesn’t build a cash value.
We believe that term life is the best kind of policy to carry so you can save on premiums up front and use the savings to invest in better opportunities. A term life policy is the most cost-effective solution.
Another important kind of insurance to consider is long-term care insurance. This can supplement your health insurance and cover expenses not covered by your health insurance.
Both of these kinds of insurance can play an important part in your financial story.
Most people don’t like to think about life insurance, but having a policy is important if you have family members depending on your income. Even if you have significant assets, a life insurance policy can protect your family from the unforeseen expenses of a funeral. It can also pay off debt or help a child go to college.
Life insurance is the type of insurance you want to have but never use. It’s primarily useful to protect people who financially depend on you. You can even designate a charity as the beneficiary and use insurance to build a legacy. You can also use your whole life insurance as an investment vehicle to grow your wealth.