Top Reasons People Buy Life Insurance

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Posted on 16th June 2014 by Rita in How To's of Life Insurance |Life Insurance

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memorial planning guideIncome Replacement
Protecting loved ones with replacement of income. Financial Hardship is one of the main motivations for most, to buy life insurance. Life insurance can provide finances for a growing family, living expenses, college tuition and retirement to name a few.

Safeguard Home and Business
For many, the monthly mortgage payment and housing costs are the largest debts in their budget. Life insurance policies can be tailored to cover these expenses in the event of a tragedy.

For business owners, a life insurance policy can be customized for your family to buy out a surviving business partner. Or on the other side of this you may want to provide an efficient means for a business transfer.

Funeral and Burial Costs
Final arrangement expenses can be devastating. Including coverage in your life insurance policy to cover expenses related to final arrangements will give loved ones the funds needed to carry out your final wishes.

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Inheritance or Savings
Providing a monetary gift along with loving memories. Life insurance is a safe and sure way to leave a monetary gift to your children, grandchildren and loved ones. As a side note, benefits become the property of its beneficiary therefore benefits paid to the beneficiary cannot be seized by the IRS or private creditors.

Source: The Law Dictionary
Can the IRS Seize Money from a Life Insurance Policy After It’s Paid to the Beneficiary?
Are You Taxed on Inherited Life Insurance Money?

Charitable Gift
You may have an organization you love and support. Therefore you may want to allocate a portion of your life insurance benefit to use as a charitable donation. Planning is key – you can buy life insurance now and designate your favorite organization as beneficiary in your policy.

 

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. Receive genuine personal service and 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.

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.