Life Insurance is the foundation of financial security for you and your family. It protects your financial resources against the uncertainties of life, so you can plan for the future. Life insurance is purchased to protect your loved ones, in case you die too soon.
Often times, stay-at-home spouses are overlooked when purchasing life insurance. How much would it cost you to replace your spouse if you were to die? It’s estimated that the cost would be well over $150k per year to hire a nanny, car pooler, cook, housekeeper, someone to help with homework, care for them when they are sick, extended daycare when/if you travel for work, etc. So be sure you also obtain quotes for your stay-at-home spouse. This way, everyone is protected.
Basic Life Insurance Policies:
Cash Value Life Insurance Policies tie premiums to various types of investment accounts (stocks, bonds, money market, etc.) in which the savings can be tax deferred and/or borrowed against, if needed. These policies are known as whole life, universal life and variable life insurance.
Term Life Insurance Policies do not build cash value, however, they will pay a set amount to the named beneficiary upon the death of insured within the stated term.
Most newer policies offer an advancement of death benefit due to terminal or critical illness.
For more info please contact us at firstname.lastname@example.org or call 214-707-6056.