Moving forward from 2018 to 2019 can mean many things to many people. People will start diets on January 1, 2019, and most will probably fail by February 1, 2019. (For help with any health aspirations check out my friend and his gym here; http://www.burntown.com/. Why am I worried about the new year and your diet? Well, for one thing, you are looking to better yourself. That means you want to be prepared for your future. One thing that may slip your mind as you prepare for all the things you want to accomplish in 2019 is life insurance.
Life insurance is not as sexy to talk about as getting in shape and making a better you. What it does is make sure those you care about can move forward when you die. It doesn’t matter to me if you don’t think life insurance is necessary, you should know about it. There are two types of life insurance; term and whole life insurance.
Term life insurance is like renting the car. It is sold over a period of years, usually, 10, 20 or 30 and has a specific death benefit. A 20-year term with a $100,000 death benefit will pay the beneficiary $100,000 if the insured dies during the 20-year term and the premium is paid currently. At the end of the 20 years, or if you stop paying the premium the policy will go away. This is the less expensive of the two types of life insurance because it is for a set period of time.
Whole life insurance resembles buying the car. Whole life insurance for $100,000 will be in force for as long as the policy is paid for usually up to age 100. Many whole life policies also carry an investment side and build cash value. For information on how this works and what it can mean for you call us today or check with your local professional. You can also check this book on Amazon here, the Power of Zero by David McKnight, which will provide information on how life insurance can be a good piece of the retirement puzzle.
To put it even more simply, life insurance is money paid to your survivors when you die. Your survivors can use this money for a variety of things like mortgage, education, debts, lost income, the list goes on.
Most know that gambling exists because the odds are in favor of the house or casino and not the card or game player. One thing that is guaranteed in our life is that it will end. Plain and simple, no one lives forever.
Give us a call today at 971.303.8508 to learn more about life insurance and what it can do for you.
For other blogs, on life insurance go here: https://www.lucascole.com/category/life/
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