Do you have your “Replacement Income” Set Up?

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Posted on 11th June 2013 by Rita in FREE Consumer Guides |How To's of Life Insurance |Life Insurance

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Single income or double income household? Which ever your case is, have you thought about what would happen if this income was no longer available? Most likely it would be devastating. Very few of us take time to think about what will happen if the an income earner dies. It is not one of the most pleasant tasks in life but it is a necessary one.

If others depend on your income, proper planning is a MUST and will remove the financial devastation for your loved ones. With others depending on you it would be wise to take some time and learn about protecting the loss of income through life insurance. It may surprise you, that with relatively a small annual premium you can give an effective means of financial support for your loved ones.

 Providing for your loved ones… may be one of the most important investments you will ever make.

Life insurance is one of those very important purchases you make during your lifetime. If a tragedy happens, life insurance proceeds can help replace lost income. With the right insurance coverage your loved ones will not worry about their immediate and future finances. Life insurance serves as the foundation for a family’s financial security and is one of the few things that will give assurance during a difficult time.

One Income Family: When the family’s main breadwinner dies, the survivors still have living expenses and possibly other debt. With a one income family it is essential that the main breadwinner have enough life insurance to cover the missing income.

Two Income Family: If one of the income earners in a two income family dies, the amount of life insurance needed should equal the amount of the lost income in order to support the same standard of living. Life insurance is an invaluable way to protect the future income needs of your family.

Speak with an agent to learn about the options available to you. Agents are trained to evaluate your needs, offer unbiased advice and support during difficult times. Independent agents will be able to access insurance coverage from multiple carriers, which in-turn provides you with the best options for prices and savings.


ABOUT NORTH COAST LIFE INSURANCE
Established in 1965 in Spokane, WA. North Coast Life Insurance Company (NCL) is focused on providing solutions for you and those you love most. Experience genuine personal service while receiving guidance on all your insurance needs.
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). Providing solutions for your financial needs. INSTANT Term-Life Quote: www.insureyourfamily.com
Prefer to speak with a local financial representative? Call or email your request and you will be connected with a representative in your area.
Contact info: Phone: 800.541.5858 Email: rita.sollie@nclife.com or Live Chat below.

Failure to have an Annual Policy Checkup – life insurance mistake #8

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Posted on 17th January 2012 by Rita in Life Insurance |Life Insurance Mistakes

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annual policy checkup

Problems tend to occur when a life insurance policy is purchased, and payments are continually provided without ever making sure the policy continues to meet your present day needs. 

A shocking number of policies are payable to ex-spouses or others whom the insured would NOT have wanted to receive the proceeds since things have changed from the time the policy was originally put into place. A common occurrence overlooked (more…)

Undervalue a Spouse who does not provide income – life insurance mistake #3

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Posted on 15th April 2011 by Rita in Life Insurance |Life Insurance Mistakes

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life insurance mistakes

Undervaluing a spouse who is not bringing in any income. Until we stop to think and understand─ most of us do not realize how much the stay-at-home parent saves the family.

The amount of money needed to pay someone else to do the same things the stay-at-home parent does really adds up.. and fast! As explained in “What should a stay at home parent be paid?”


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.
View INSTANT Term-Life Quote: www.insureyourfamily.com
If you prefer to speak with a local financial representative, call or email your request and you will be connected with a representative in your area.
Contact info: Phone: 800.541.5858 Email: rita.sollie@nclife.com or Live Chat below.

Under-estimating your families life insurance need – life insurance mistake #2

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Posted on 14th April 2011 by Rita in Life Insurance |Life Insurance Mistakes

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life insurance mistakes

Under-estimating your families life insurance need. People often underestimate the amount they should purchase.  There are a number of on-line calculators to help with this.  My suggestion: use a North Coast Life Life Insurance Needs worksheet and the Life & Health Insurance Foundation for Education calculator.  When you would like to reseach this on your own.  But always speak with a qualified representative, who will be able to identify and assess needs you may not have thought about. Besides Licensed representatives can provide you with the best product options for your unique situation.

The Life Foundation asks two great questions help get you started with this very important need…

  1. How much will be needed at death to meet immediate obligations?
  2. How much future income is needed to sustain the household?

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.
View INSTANT Term-Life Quote: www.insureyourfamily.com
If you prefer to speak with a local financial representative, call or email your request and you will be connected with a representative in your area.
Contact info: Phone: 800.541.5858 Email: rita.sollie@nclife.com or Live Chat below.

Not Obtaining Any At All – life insurance mistake #1

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Posted on 13th April 2011 by Rita in Life Insurance |Life Insurance Mistakes

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life insurance mistakes

When it comes to the subject of Life Insurance… by far the BIGGEST Mistake would be Not Obtaining  Any At All!

In tough times life insurance may be the only financial product that continues to do what it was designed to do… Provide for your family’s Financial Security!

Read: “When in Tough Times” for details.  (You may be surprised to know (more…)