8 Common ways Life Insurance protects:
Life Insurance provides for unexpected & preplanned Funeral/Final Expenses.Funerals are more expensive then you may realize. Many sources agree… Funerals are considered one of the most expensive purchases many consumers will make. (view Federal Trade Commission – Facts for consumers).
Life Insurance provides for Additional Fundsto be available. Used to pay the mortgage or other debts left behind. Such as: credit card, car or other loans.
Life Insurance provides for Higher Educationof children. This will provide worry free payment of your children’s higher education should you not be with them. You are able to choose how the payments will be made at the time the policy is issued.
Life Insurance provides for a Monthly Income. Just like bring home a paycheck to care for the household. Life Insurance ensures your family will have the money to take care of themselves for months or even years. Payouts are decided when purchasing your policy.
Life Insurance provides loved ones with Perksyou would have provided if you were still here. A general rule for calculation on how much life insurance you need: Figure your total salary for 7 years added up. This would be how much life insurance you should obtain… but don’t forget to adjust for inflation and bonuses you would have received.
Life Insurance provides protection for Loss of Key Employee. The talents and experience of a key individual within your business, accounts for much of the business success. Unexpected loss of such an individual could be a decrease in profits and a financial strain. Life Insurance funds could give your business and family the assurance of continuing on sound financial footing. Along with providing the time they may need to make the necessary arrangements to keep the business running as before.
Life Insurance provides an Inheritancefor your heirs. Even if you have no other assets to pass to your heirs, you can create an inheritance by obtaining a life insurance policy.
Life Insurance provides a Charitable Contribution to on organization/facility you would like to support after you’re gone.
Note: This blog is designed for general information purposes only. All information presented on this site should not be interpreted as legal advice and the author assumes no responsibility or liability for the actions taken or not taken by the readers based upon such information. For legal and tax advice contact your attorney or tax adviser.
Rita Sollie, Direct Insurance Representative with North Coast Life Insurance Company (NCL). No gimmicks or schemes here, just genuine and honest service. We don’t sell insurance, we solve problems. I welcome the opportunity to show you what NCL can do for your Life Insurance and Financial needs.
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