As we ring in the New Year, many of us will re-evaluate our personal and financial goals. There is a renewed energy to improve our health and to address obligations that have been put off for too long! While New Year’s resolutions may seem cliché, it is important to review your financial situation to identify areas where changes might be needed. One very important, yet often overlooked, part of one’s financial plan is life insurance.
Life insurance can serve a variety of purposes such as:
When you pass away, your income stops immediately. Life insurance can be used to replace this lost income and to provide financial security for those who financially depended on you.
Cover Burial Expenses
Even a modest funeral can cost thousands of dollars. Life insurance proceeds can be used to cover these expenses, lifting this financial burden off your beneficiaries.
Coverage Is Affordable
A common misconception regarding life insurance is that it is expensive. However, coverage is generally very affordable for most people. Term life is less expensive than whole life of universal life coverage. The younger and healthier you are, the more affordable your coverage will be. At Wichert Insurance, we have relationships with dozens of insurance carriers that are often able to provide coverage for people with diabetes, hypertension, depression and a variety of other health conditions. Don’t assume that you won’t qualify for coverage! We will search the marketplace to find the best carrier for your condition.
If you are a business owner, it is critical that you have life insurance. Life insurance can be used to cover your business’s financial obligations, allowing the business to continue operating without suffering financial hardship due to your passing. If you have a business partner or partners, all partners should have life insurance coverage.
Peace of Mind
Although we do not know what the future holds, having life insurance gives you the peace of mind that your loved ones will be protected is something should happen to you. It will provide them with the financial resources to cover immediate expenses and will buy them time to make rational, long-term decisions.
Our team of life insurance specialists look forward to hearing from you! Click HERE for a no-obligation quote.