Life insurance should be called Quality-of-Life insurance, since its main function is to provide a tax-free cash benefit to your beneficiaries when you pass away. This way, your benefactors will be able to maintain their current standard of living once your gone.
As you know, tuition fees, a mortgage, loans and debts, emergency medical expenses and rising living costs all add up quickly. This cash benefit will also help cover funeral and succession costs.
Your rate depends on a number of health-related factors - your age, your health condition and whether you smoke or not to name a few. Since life insurance gets more expensive as you get older, you can opt for longer term policies to lock down your rate.
Many people have life insurance at work as part of their group benefits program. Consider that if you leave work for any reason whatsoever, your coverage will be cancelled and you will have to purchase new life insurance at your current age...
Term Life insurance is a great way to get started, but we also offer other options like permanent and universal life insurance.
At BrokerTeam, we'll analyze your financial goals and help you choose the best option for you. Call us today to get for your FREE consultation.
These are just a few of the ways you can optimize your coverage. Call a BrokerTeam licensed life agent today to get a full reading of your needs and our recommendations.