Is Life Insurance right for you?
Go Insurance Rates gets many emails from consumers asking if they actually need life insurance. It is often a difficult question to answer, but asking some initial questions can often make the answer much easier.
Life insurance should be an important part of most peoples financial plan. It is the key element in the contingency plan of most families and can also be a powerful way to save money for the future of retirement.
The first question to someone interested in life insurance is; Are you current financially responsible for anyone (kids, spouse, siblings, parents, etc)? If the answer is yes, what would happen to those people if you passed away? Would they have the ability to pay their bills?
If you are currently independent and do not have people relying on you to provide a roof over their heads, or food, clothes and care, there still may be many reason to consider life insurance and the variety of different policies available to you. In addition to helping to support dependents, life insurance can help provide immediate cash at death.
Insurance policy payouts are a source of cash to pay the deceased’s debts, funeral expenses, and income taxes. It can also be used as a tax deferred way for heirs instead of leaving cash, property or other assets to heirs and having it taxed upon your death.
To learn more about your options, let our Life Insurance partners talk to you about your options. There is no cost or obligation to talk to our Specialists and learn more about the costs and benefits of a Life Insurance Policy