PreHeader Home Page About Us Home Page Get A Quote Partners Claims Blog English Bulgarian Bulgarian Version Contact Us Contact Us

family walking through fieldThe investment in life insurance can provide one of the strongest cornerstones for your family's financial well-being. If you’re wondering if you need to invest in it or what the value would be to your family, consider these five ways life insurance can impact the lives of individuals in the long run.

#1: Pay for Final Expenses

Perhaps one of the hardest parts of losing someone is realizing there is a large amount of money needed to pay for final expenses. Life insurance can help over burial and funeral costs, administration of probate costs, pay final medical expenses and meet other debt requirements following death.

#2: Replace Income for Your Dependents

If your family relies on your income, life insurance is very important. Without it, your family may not be able to meet financial needs on a regular basis. If the survivors, including your dependents, would be financially stricken without your income, life insurance can help.

#3: Allow Your Heirs to Inherit From You

Life insurance can be an important part of any estate plan. If you wish to leave behind money to your loved ones, a special charity or another organization, you can do this through your policy. You determine the beneficiaries of the policy, giving you a great deal of freedom.

#4: Create a Savings Fund for Loved Ones

Life insurance plans can help you give your loved ones a backup funding source for their financial needs for years to come. Perhaps your loved ones do not need your income replaced, but they can benefit from having a larger savings for later.

#5: Minimize Estate Taxes

Yet another key benefit is that life insurance can help to pay off and cover estate taxes, often called death taxes. However, life insurance proceeds are not taxable and these funds do not go through probate themselves, giving your loved ones the financial support they need without allowing creditors or tax departments to take the funds from them.

When it comes to structuring your financial future, focus first on your family's would-be needs if you were not there to support them. The key here is to realize the true value this type of investment can make and its importance in numerous situations.

Get the right coverage today. Call Allen Harmon Insurance at (269) 441-5156 for more information on Battle Creek life insurance.
Share |


No Comments


Post a Comment
Name
Required
E-Mail
Required (Not Displayed)
Comment
Required


All comments are moderated and stripped of HTML.
Submission Validation
Required
CAPTCHA
Change the CAPTCHA codeSpeak the CAPTCHA code
 
Enter the Validation Code from above.
NOTICE: This blog and website are made available by the publisher for educational and informational purposes only. It is not be used as a substitute for competent insurance, legal, or tax advice from a licensed professional in your state. By using this blog site you understand that there is no broker client relationship between you and the blog and website publisher.
Blog Archive


View Mobile Version
Site Footer Home Page Customer Service About Us Get A Quote Contact Us Claims Testimonials Locations
Allen-Harmon-Mason-Selinger Insurance Agency | 230 N Helmer Rd | Battle Creek , MI 49037 | (269) 441-5156
Kozhuharov Agency | 919 W. University Dr. Suite 300 | Rochester, MI 48307 | (877) 205-0051
Powered by Insurance Website Builder