Protecting your loved ones is important to you. Do you have others that depend on you for financial support?
Do you have others that depend on you for financial support? If so, part of your smart financial plan should include how to provide for them in the event of your death. While life insurance isn’t a fun thing to think about, it’s about protecting your loved ones.
Types of Life Insurance
Term: This is the simplest and generally the cheapest form. You buy coverage for a specific period. It can usually be renewed, but premiums will increase based on age and health factors. There is no cash value.
Whole Life: You purchase this policy to cover your entire life, as long as you keep paying premiums. Premiums remain constant throughout the policy, and the company invests a portion of your premium that becomes the cash value. These are more expensive than term policies in the early years, but they even out because the premium does not increase.
Riskier because there is no guarantee for the cash value.
How Much to Buy?
It offers life insurance as part of our benefits package, but it’s hard to know how much to buy. Many people decide based on an income replacement calculation, between 5 and 10 times the amount of your current income.
Think about your circumstances: Is yours the sole income in your household? Are there other expenses, such as college tuition, that may arise in the future? Don’t forget to include potential medical and funeral costs. Above everything, you want to be sure your family does not get stuck with bills, debts, or expenses that they cannot afford. Depending on your needs, you may want to consider buying supplementary coverage beyond what offers.
Why Purchase Now?
Buying life insurance may seem unmanageable right now, but it could be a smart decision. Unlike many other benefits, life insurance is more affordable right now than in the recent past. Plus, during this tough economic period, ensuring that your family will be financially secure in the future is more important than ever.
Request a Quote
We promise we don't send spam
Get in Touch
Racine Office 1300 S. Green Bay Road Racine, WI 53406. Phone: (262) 636-1860, Fax : (262) 636-1866, Email: firstname.lastname@example.org
Kenosha Office 3917 47th Avenue Kenosha, WI 53144. Phone: (262) 657-3193, Fax : (262) 636-1866