Life – Why You Need Life Insurance
Who do you love?
You’d do anything to protect your family from harm. But what if something happens to you? Or your spouse? Nothing can truly replace the loss of a life. But with life insurance, your love will live on — by helping to provide your family with a solid future.
How life insurance works.
Life insurance gives your loved ones financial security after you’re gone. You pay a monthly premium, and if the unexpected happens, your beneficiaries receive a death benefit to help them pay for funeral expenses, mortgage, college tuition or retirement.
How much is enough?
The most important thing to think about is how much income your loved ones would need to remain financially stable without your income. Many employers offer life insurance plans, but they are usually not enough. You may want to buy another policy to supplement what you have.
Is it affordable?
Your premium will depend on a range of factors including your age and how much coverage you want. Different life insurance products have different fees and/or charges. If you’re looking for cost-effective insurance, you may want to start with a term life policy and then move to a permanent policy once you’re more financially stable.
Choose a policy that’s right for you.
Term
Term is usually less expensive because it only covers a set amount of time — such as 10, 20 or 30 years. You choose the amount of time and the amount your policy is worth. Then, your beneficiary receives a lump-sum payment if you die before that term is over. You can usually convert your term policy to a permanent policy without having to get another medical checkup.
Permanent
A permanent life insurance policy is just that — permanent. It is designed to last your lifetime with regular, annual premium payments. These premiums are typically higher than term, but that is because you are also accumulating cash value in your policy in addition to the death benefit protection. Contact Roger W. Dwyer Agency to learn more about the benefits of building cash value and which type of life insurance is right for you.
I’ve lived in Orange County my entire life. Through the years, I’ve come to know many local families and developed many relationships. This local connection has helped me better understand the needs of my customers, especially when it comes to their financial needs. From retirement accounts to college savings plans, I’m available to help my customers with a variety of financial products.