Phelan, CA (PRWEB) December 17, 2013
Life insurance is critical to consider when planning a family’s financial future. Answer the following questions: Are there children? Is one person the principal source of income for the family? Is there a disabled adult or child in the household? Is a large estate involved with expected estate taxes? Is there a desire not to burden anyone with funeral and burial expenses?
If the answer was yes to any of these questions, life insurance is a smart move in estate planning. Think about how the family would manage in the event of unexpected death. With a life insurance policy, immediate cash can be provided upon death to pay one’s debts, any funeral expenses, credit card balances, even the mortgage.
Dependents will be cared for financially while being able to maintain the same standard of living. Children’s college tuition can even be paid, and with the right policy, its cash values can be used to pay for some or all of the tuition without needing a death to occur. With life insurance, beneficiaries can avoid probate and estate taxes, and/or limit tax liabilities.
The best time to purchase a life insurance policy in order to get the cheapest rates is while one is still young and healthy. The most common mistake people make is to be underinsured. That’s why it’s important to speak to a licensed insurance broker. Fortier Insurance is able to assess the needs of a client and provide them with all the coverage options available.
To avoid the risk of becoming underinsured, once a policy is purchased it should be reevaluated every 2-3 years with a broker. Scott Hanson, principal at Hanson McClain Advisors said, “As your financial goals and needs change, it is important to review your life insurance needs to secure your family’s future.” It is especially crucial after any major life change, such as marriage, birth of a child, home purchase, career change or retirement.
The purpose of a life insurance policy is to provide for the living. Get peace of mind today by calling Fortier Insurance at 1-800-927-3566 or visit their website at http://www.fortierinsurance.com