Life insurance provides a death benefit payable to your loved ones or named beneficiaries in the event that you pass away. Life insurance can be broken out into two categories, term or permanent. If you don't understand the difference that's okay - that is what we are here for.
Life insurance is not only the cornerstone of a solid financial plan, but it’s hands down one of the most cost effective ways to protect the people who depend on you financially.
The amount of coverage you need depends on a number of different variables. Here are a few examples:
how many children you have
your future earnings potential
whether or not you’re married
spouses future earnings potential
you and your spouses age
amount of debt you have
Why do you need life insurance?
To ensure your loved ones are financially protected if something unexpected happens to you.
What would happen to your family if you were to die prematurely? Would they be able to maintain their current lifestyle?
Would your kids be able to go to college? Would your spouse be able to shoulder the load with one income?
If you have a child, are married, or you are carrying any kind of debt, purchasing life insurance is a no-brainer.