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… June 02, 2022 Why It Matters Life insurance can help families prepare for life’s many curves. Term life and universal life insurance are two options for delivering financial confidence. … life insurance lasts from the time you purchase the policy to the time you pass away, as long as you pay the required premiums to keep the policy in force. Generally, permanent life … it’s likely that you help cover the cost of rent, mortgage, groceries, utilities, child care, and other household necessities. For this reason, many insurance experts recommend that …

… is likely the key deciding factor. Some categories to assess: Debt Think about short-term debt (like credit cards), and long-term debt (like an auto loan or mortgage). The average household credit card debt is more … food, clothing and shelter needs of your spouse and family. Will there be increased child care costs, schooling or other expenses without you? If you’re the primary breadwinner, that loss …

… expenses? How much income would your family need each month if you passed away, and for how long? Do you need to structure a plan for payment of the death benefit to your beneficiaries? … important areas to explore with clients: Do existing policies coincide with current goals? Term life policy premiums may be about to increase. Do the client’s long-term goals require a … life insurance policy? Is the client interested in additional features such as a long-term care rider or living benefits? What is the current insurer’s financial strength rating? Five …

… have considered. Life insurance with cash value can help ensure that your loved ones are taken care of. Whole life, universal life, and index universal life insurance policies can all have … basis. And any loans you take out against the policy aren’t subject to income tax as long as you don’t exceed the basis of the policy. If you’d like to learn more about how a cash value life insurance policy might fit into your long-term plans, speak with your financial professional. Things to consider Add extra flexibility to …