We understand: nobody desires to think about what will happen at the time of death – in regards to our loved ones or ourselves. Plenty of people equate life insurance and death. And while your life insurance plan is there if the worst were to happen, it can also lead to so many other wonderful things for the people who you care most about. Life insurance does not have to break your budget, and can easily be bought quite affordably. Check out these excellent reasons to consider a life insurance plan!
It is Part of a Sound Financial Plan
An insufficient life insurance plan coverage has severe consequences for many families. Life insurance helps you with planning for your loved one’s long term happiness and health, providing you with the peace of mind that your family is financially protected. If someone would suffer financially after you die, you need life insurance just like you need a checking or savings account. The money from your policy’s death benefit can assist your family in meeting many important financial needs – like funeral costs, continuing mortgage payments, or college funding.
It is Not a Pricey as You’d Think
Most consumers think that life insurance is either too expensive or too complicated. In actuality, life insurance is very affordable and much more accessible than you would think. For a healthy 30-year-old, they can obtain a 20-year term life insurance plan with around $250,000 of coverage for $13 a month.
Your Life Insurance Plan Can be More than just Life Insurance
Riders to a life insurance contract or certain kind of policy can enhance your coverage. You could have a life insurance plan, sometimes called a hybrid policy, that includes a long-term care benefit to help pay for long-term care services. If this is something you need in the future, you can take advantage of it. Otherwise, there’s a death benefit for your beneficiary. There are several different riders out there that can assist you in customizing and boosting your life insurance.
Your Life Insurance Plan Can Help Maximize Your Retirement Experience
If the financial obligations you had when you first bought a permanent life insurance policy have finally ended, your policy can take on a new life and benefit your retirement plan. If structured correctly, your policy can provide supplemental retirement income through policy loans or even options for long-term care benefits. Your life insurance plan can also maximize a pension by supplementing a surviving spouse’s income, or established all into a life insurance trust that will allow you to pass on to your heir (or heirs) outside of your estate.
Life insurance might be a bit intimidating, but just like picking out your first Medicare plan, all it takes is some simple research. If you have any questions regarding life insurance, call Healthcare American for some expert help!
Independent Healthcare Insurance Brokers You Can Trust
Healthcare American is an independent insurance broker that you can trust with all of your personalized retirement planning needs. We provide customers with healthcare, life insurance, and retirement plans, tailored to their personal needs and individualized situations! We will provide the best insurance plans and tailor-made retirement plans to those living in the Baltimore, Washington DC, Virginia, Delaware, and Pennsylvania areas!
For more information and a free online quote, visit our website, send us an email, or give us a call at (443) 537-0555.