You’ve worked your whole life to build a home and a life for yourself and your family. You’ve got big dreams—paying for college for the kids, retiring when the time is right to someplace warm, enjoying your golden years by traveling with the one you love. But what happens to your children or your significant other if you die? What happens to you if your significant other dies? It’s a tough subject, but it happens. In addition to dealing with the loss, could you—or your loved one—handle the financial debt alone?
If you’ve got people depending on your earning capability, or young children, you absolutely need life insurance—today. Contact us at Personal Shopper Insurance, and we’ll take the time to help you decide how much life insurance you really need. Here’s a few things we’ll discuss with you in determining your needs.
How many people are financially dependent on you, and how long are they likely to depend on you? If you have small children, chances are, they’ll need you to provide for them for a while.
How much money will they need to live on while they find a way to become self-sufficient?
What assets are available to take care of your dependents?
Do you have money in the bank you they can access to meet immediate needs?
Do you have a will to help them avoid probate?
Will your estate owe substantial debts and taxes after you’re gone?
Do you own a business?
Do you have a plan in place in the event of your demise to keep your business up and running?
Besides grieving your loss, your loved ones will be faced with a myriad of decisions regarding your wishes and estate. A life insurance policy can immediately help them through a very tough time, reduce stress and help them to continue on with the life you built for or with them. There are different types of life insurance-whole life, term life, universal life—there’s mortgage term life insurance to cover the mortgage balance—but there is not a “one size fits all” life insurance plan. Call PSI Insurance today and we’ll tailor a plan to fit your life, and your budget.