Life Insurance – Do you need it??

Have you reviewed your Life Insurance needs lately?   Life insurance is an important tool for effective financial planning, retirement planning, and estate planning.   There are many different reasons to own a life insurance policy.

Final Expense coverage – Simplified Issue Whole Life insurance is the most effective way to pay for final expenses.  By having this coverage you are taking the burden away from your family and loved ones and making those final plans easier to manage and pay for.  This insurance also helps to pay any additional unpaid medical bills incurred as well as funeral and burial costs.

Protection of assets – Term Life Insurance is a great way to cover your debts and protect assets for your family if something were to happen to you while you are still working, have a mortgage, business debt and depend on your income to pay your bills.  Protect your loved ones from income loss and financial catastrophe.

Retirement Income – Both Indexed Universal Life and Whole Life are great tools for building  wealth and creating tax free income in your retirement years.   These products can have an internal rate of return that is very competitive with many investment products, and give you tax free retirement income.

Take care of your Family!  The benefits paid by Life insurance are one of the only tax free sources of income!!  Be sure you leave your family, and your beneficiaries in a comfortable financial position.   Leverage your assets and make sure you leave the people and organizations that you care about the proceeds that you want to give.  Planned charitable contributions are often made through life insurance.

Estate Taxes – Life insurance is one of the best methods of paying estate taxes for your beneficiaries.  This protects your heirs from being forced to sell assets to cover tax bills.

Call Elise at (208)590-2606 if you would like a review of your current life insurance policies and/or if you want to look at purchasing life insurance.