Life Insurance
Life Insurance is a crucial step in planning for your future and the future of your family. Planning for our own death or the death of a loved one is not something that many of us want to do. However, having the proper financial support in place when the unthinkable occurs can help those we leave behind take care of arrangements and recover from an unexpected loss easier.
Life insurance can help you fulfill the spoken and unspoken promises that you have made to your family. Life Insurance provides dollars to your loved ones when they need it most, after your income is removed from the picture.
Life Insurance can pay off loans and mortgages, provide for educations, and enable family members to get on with their lives as normally as possible even though you and your income are not there to provide for them.
How much Life Insurance do I need?
The need for life insurance is dependent on your own personal and financial needs. Stringham Insurance can assist you in determining what type and amount of life insurance is appropriate for you. Generally, you should consider life insurance if:
• You are married.
• You have dependent children.
• You have an aging parent or physically challenged relative who depends on you for their support.
• You have sizable estate.
• You own a business.
• Your retirement savings are not enough to insure your spouse’s future against a rising cost of living.
• You want to leave a nice sum of money to your Church or other charity and want to obtain the appropriate tax benefits.
• You have a mortgage and other personal debts.
Life changes…so, should your policy!
Most people will buy life insurance more than one time throughout their lifetime. The need for life insurance is dependent on your personal and financial needs. As your life changes, your life insurance coverage may need to change to adapt to your current needs. Some life changes that may require a policy “tune-up” include:
• A recent marriage or divorce
• A new child or grandchild
• Your health or your spouse’s health has deteriorated
• You provide care or financial assistance to a parent or other relative
• You purchased a new home
• You re-financed your mortgage
• You are concerned about your retirement income
• You or your spouse recently received an inheritance
• You are planning a child or grandchild’s education
• Life goes on…and on.
Who gets the money?
You always need to review your beneficiary designations. You want to be certain that the proper party – the person you want - will receive your life insurance benefits. Bring your policy to Stringham Insurance for a review. We will help you make sense of it all.
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