Contact us

(831) 722-3541

Contact us

Contact details:

Message:

Your message has been sent successfully. Close this notice.

Commercial Insurance Quote

Coverage Information

Current Coverage Information

Contact details:

Your Quote Form has been sent successfully. Close this notice.

Auto Insurance Quote

Contact details:

Current Coverage Information

Your car:

Your Quote Form has been sent successfully. Close this notice.

Homeowners Insurance Quote

Your house:

Current Coverage Information

Contact details:

Your Quote Form has been sent successfully. Close this notice.

Life Insurance Quote

Life Insurance Details

Current Coverage Information

Contact details:

Your Quote Form has been sent successfully. Close this notice.

Health Insurance Quote

Coverage Information

Current Coverage Information

Contact details:

Your Quote Form has been sent successfully. Close this notice.
7 years ago · by · 1 comment

WHAT EVERYONE SHOULD KNOW ABOUT LIFE INSURANCE


Life Insurance

As any financial advisor worth his or her salt will tell you, if you have loved ones who depend on your income, a life insurance policy is a must-have. If you were to die, an effective life insurance plan will ensure that all your family’s financial needs will be covered—from the monthly mortgage and utility bills to your child’s college education. Without life insurance, your family could find themselves in dire straits if something happened to you.

Unfortunately, this advice often falls on deaf ears. In 2008, 68 million Americans still did not have any life insurance, according to the Life and Health Insurance Foundation for Education. On top of that, most people who do have life insurance don’t have enough coverage to fully support their family.

If you do not own any life insurance or have minimal coverage, here are three things you might want to consider:

1. Everyone needs life insurance.

Many people mistakenly assume they have no need for life insurance because their children are grown and no longer require financial support. What these people don’t realize is that life insurance coverage can be used for much more than supporting their loved ones.

For example, the payout from your life insurance policy could be used to cover your final expenses, including medical bills, estate taxes and funeral expenses. Considering that the average funeral costs $10,000 or more, do you want to leave this heavy financial burden on your loved ones’ shoulders?

You can also designate life insurance proceeds to help fund a grandchild’s college education or even donate them to your favorite charitable organization.

2. Three times your income may not be enough.

Some people say the best way to determine the amount of life insurance coverage you need is to simply multiply your annual income by three. However, this amount may not be enough. What if your spouse who is unable to work lives many more years after you die? Three years worth of income will not be nearly enough to support your spouse for another eight, ten or even 20 years.

This is why many professionals say the “three times your income” method is not always a good rule of thumb. Figuring out the right amount life insurance requires a comprehensive evaluation of your financial goals, debts, investments, lifestyle and habits.

3. You’re never too old to buy life insurance.

Many seniors believe they are too old to worry about life insurance because they no longer have loved ones relying on their income. But once again, a life insurance policy can help cover your final expenses after you die so your family is not left with the bill. Before you discount life insurance, it’s important to know all the facts. These valuable insurance policies can protect your family’s financial well-being, pay off your final expenses and even fund a loved one’s home purchase or college education.

Of course, whether or not you qualify and how much you will pay for life insurance depends on your age, health and the type of insurance you want to purchase. If you are considering buying life insurance, you may want to meet with a financial advisor or insurance agent, who can help you determine how much and what kind of life insurance you need.

One thing is certain: everyone should consider purchasing life insurance. After all, your family’s happiness could depend on it.

Comments

  1. Burt Silver says:

    My wife and I have decided to look into life insurance for us. We have a large family, and we want them to be taken care of if something happens to one or both of us. I never thought about the fact that life insurance could be used to help pay for a grandkid’s education. That makes it worthwhile even after my kids are living on their own.

Leave a reply

Your email address will not be published, and your website url is not required.

Company information

Scurich Insurance Services
Phone: (831) 661-5697
Fax: (831) 661-5741

Physical:
783 Rio Del Mar Blvd., Suite7,
Aptos, Ca 95003-4700

Mailing:
PO Box 1170
Watsonville, CA 95077-1170

Contact details

E-mail address:
Info@ScurichInsurance.com

(831) 661-5697

Available 8:30am - 5:00pm