Purchasing life insurance can be a major decision.
Whether you are getting older or just starting out in life, it’s a choice that requires plenty of research and someone to answer your questions so you can ensure you’re making the right decisions.
When it comes to buying this type of insurance, there are quite a few benefits—almost all of which have to do with finances in various ways. The main appeal of life insurance is to replace income for your children or spouse. This is especially important if you are the sole provider for the family, as they will lose their income when you’re gone. Depending on the ages of your family members, you may choose a long-term permanent life insurance policy or if your children will likely be grown by the time you pass, you may consider a term life insurance policy.
In additional to providing for your family, it can leave an inheritance behind for your children as well as pay for some of the funeral expenses to make things easier on them. There are also certain death taxes required in addition to funeral expenses—not having to come up with those can be extremely beneficial in the case of accidental deaths.
Another benefit of life insurance is that it can create a source of savings.
This may not be true when it comes to term life insurance, but it is definitely true for universal life and permanent life insurance coverage. Life insurance policies can help build wealth and serve as assets that can be financially beneficial to the owner of the policy while they’re still alive.
One final benefit for those considering life insurance coverage is that the money can be used to make charitable contributions upon your passing. This may not necessarily help you or your family, but can be a great option for those who love to give back or wish they had done more of that throughout the years.
Peter Green Insurance is the perfect solution for anyone considering life insurance. Call (714) 258-2800 or get a free quote online today to get the answers to your questions or find the perfect plan for you.
As experienced professionals in the insurance business, we have all of the knowledge you’ll need to make an informed decision when it comes to term life insurance, universal life or permanent life insurance.