Auto Insurance AUTO

Auto insurance protects you against financial loss if you have an accident.

Read More
Homeowners Insurance HOME

A standard policy insures the home itself and the things you keep in it.

Read More
Business Insurance BUSINESS

Discover the perfect insurance options to meet your specific and unique needs.

Read More
Contractors Insurance CONTRACTOR

Browse a variety of insurance options in order to find the right one for you.

Read More
Medicare Insurance MEDICARE

Learn about different medicare coverage to fit your specific needs.

Read More
Travel Insurance TRAVEL

Finding insurance doesn't have to be difficult. We do the work for you.

Read More

Why Everyone Needs Life Insurance


When asked about life insurance, most financial experts will tell people that this form of coverage is one of the most important components of solid financial planning. The following instances outline some of the biggest advantages of life insurance.

Life insurance replaces income for surviving family members or dependents. If a person has people who depend on his or her income, it is important for that individual to have a plan to continue providing for dependents in the event of an untimely death. This is especially important for families with young children and a spouse who stays at home to care for them. It can also be important for couples. If one person earns more, the survivor would face financial hardship in meeting monthly obligations. In addition to this, people who provide financial support to their aging parents should also purchase life insurance to make sure they receive the continued support they need.

Life insurance builds an inheritance for heirs. For those who want to pass something on to heirs but do not have many assets, life insurance is an easy way to do that. By naming specific heirs as beneficiaries, the named individuals will receive the money the policyholder wants them to have.

Life insurance pays for final expenses. With the price tags of most funerals hovering close to $10,000, it is important for every person to have at least enough life insurance to cover final costs. These can be burdensome to survivors, but life insurance makes it easy fo
r family members to pay probate costs, administrative costs and funeral expenses.

Life insurance covers death taxes. In today's world, even death is taxed. It is taxed at both a federal and state level. Without life insurance, survivors would have to sell the deceased's assets to try to pay for these costs. In some cases, they may have to take a smaller inheritance instead. However, life insurance can be put in place to cover these costs and take the burden off of survivors' shoulders.

Life insurance builds savings. There are types of life insurance that yield a cash value. If this amount is not paid out as a death benefit, it can be withdrawn or borrowed by the policyholder. In addition to this, the interest is tax deferred. For sums paid out as death benefits, the interest is tax exempt.

Life insurance makes charitable contributions possible. If policyholders name charities as beneficiaries on their policies, they can provide larger sums than they may have otherwise been able to out of pocket. Many single people who do not have surviving family members to name as beneficiaries choose this option to leave a positive mark on the world.
Life insurance is something that can benefit any adult regardless of age, marital status and family status. To learn more about what options best fit individual needs, discuss concerns with us at 740-992-6677 or www.123quoteline.com.

Posted 2:02 PM

Share |


No Comments


Post a Comment
Name
Required
E-Mail
Required (Not Displayed)
Comment
Required


All comments are moderated and stripped of HTML.
Submission Validation
Required
CAPTCHA
Change the CAPTCHA codeSpeak the CAPTCHA code
 
Enter the Validation Code from above.
NOTICE: This blog and website are made available by the publisher for educational and informational purposes only. It is not be used as a substitute for competent insurance, legal, or tax advice from a licensed professional in your state. By using this blog site you understand that there is no broker client relationship between you and the blog and website publisher.
Blog Archive


View Mobile Version
Facebook
LinkedIn
Google+
Twitter
Pinterest
Instagram
© Copyright. All rights reserved.
Powered by Insurance Website Builder