Life Insurance

Life insurance is most commonly used to help protect your family from any financial effects of your and/or your spouse's premature death. However, it can be difficult to think about or plan for such an event. And, unfortunately, adequate planning is often put off until it's too late. Although it may sound simple, there are many things to consider. There are many ways to protect your family with life insurance. So, consulting with a life insurance producer can be vital!

Not Only For Family Protection

Life insurance planning is not only for those who support a family. There are several reasons for thorough life insurance planning. For example, have you recently purchased a new home? Have you recently been married? Have you made career changes? Other key purposes of life insurance include retirement and estate planning.

Life Insurance Proceeds & Taxes

Many people don't realize that even though life insurance death benefit proceeds should be paid income tax-free to the beneficiary(ies), there's a chance that such proceeds will be included in the value of the insured's estate, which may be subject to estate taxation.

Employer-sponsored Life Insurance

People often make the mistake of assuming their employer-sponsored life insurance is adequate. However, employer-sponsored life insurance is typically equal to only one year's salary...far from enough for the family provider to protect his or her family adequately. And not enough for the average single person to repay any outstanding debts - often leaving parents and siblings dealing with such bills.