Life Insurance Needs
Life insurance can be very confusing and difficult to determine what is really needed. As we get married, build families, start businesses, and grow older, we understand that life insurance is a basic fundamental part of a sound financial plan. Depending on the type of policy, life insurance can be very inexpensive which means there is NO EXCUSE not to get coverage now.
5 Reason To Purchase Life Insurance
To Protect Your Family
If your family and love ones depend on you for financial support, then Life Insurance is a must since it replaces your income if you die. It is critically important for parents with young children or those who care for adults who would find it difficult to maintain their standard of living if they no longer had access to income provided by their partner. You will need of enough life insurance to cover the costs of hiring someone to cover day-today household tasks.
To Leave a Legacy
It does not matter if you don’t have other assets to pass on to heirs, you can create an inheritance by purchasing a life insurance policy and naming your family and or love ones as the beneficiary. This a great way to set kids up for a solid financial future.
To Pay Off Debt and Other Expenses
Your family also needs income to cover everyday living expenses and to pay off outstanding debt like mortgages, credit cards, and car loans. These are the type of expenses that you don’t your family to left worrying about. Eliminate the emotional burden by purchasing a policy now.
To Add Financial Security
Most parents want to know that their kids will be taken care of when you’re gone. You not only want them to get a quality college education, but also provide for other life ventures such as getting married or starting a business.
To Bring Peace of Mind
We can’t possibly know when we will pass away since it could be today, tomorrow, or many years from now, but it will happen eventually. Money cannot replace a person, but insurance coverage can bring peace of mind and comfort knowing you taken the right steps to ensure your family will be able to maintain its standard of living if you were not here to protect them. It provides the financial protection and peace of mind.
Factors to Consider:
- Annual Income
- Current Assets
- Mortgage
- Current Debt
- Legacy (amounts to leave children)
- College Expenses
A Qwik Life Insurance Advisor has the tools to help you choose the right type of coverage to meet your unique goals. Whether the face amount is $50,000 or $5 million, we can develop the recommendations suitable for your specific situation.
Whole Life Insurance considered as permanent life insurance since coverage last for life.
Universal Life Insurance allows for flexible premium payment and policy face value.