Protect your family for 10-15 years with an option to extend for a lifetime
Our recommendation is to first identify what is important to protect. A family needs a financial safety net.
The future is mostly known, but it is the timing of events that is unknown. Insurance has provided needed cash to help families weather life’s storms for over 120 years.
The basics include preparing an income stream to deal with the most certain events: major long-term illness/injury, loss of life/income and taxes. There are essentially two choices: term insurance or permanent insurance.
Term insurance: Provides a safety net guaranteeing a tax-exempt death benefit during an agreed time-period. Usually 10-15 years. Low premium for a single event (death) that will not likely happen during the policy period.
Permanent insurance: Provides a safety net for a lifetime for most of life’s major cost events: major long-term illness/injury, loss of life/income and taxes. Higher premium designed to provide family cashflow over a lifetime of major events. Premium includes insurance + very-low-risk investments.
Choosing between term and permanent life insurance is essentially deciding if you want temporary death benefit protection or a permanent comprehensive solution that also adds protected savings, tax exempt future income options and long-term care funds.
Creating and maintaining a finance plan for you family is an important task that requires a team of advisors working together to ensure that you have a high probability of getting desired results over your lifetime. Learn more about How We Help – click here
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