Having life insurance means a family, or even a single person, can prepare for any eventuality.
SOLVANG, Calif. (PRWEB) November 16, 2018
The right life insurance policy can take care of outstanding bills, provide income for loved ones, and be an investment in a family’s security. Rick Torres, a life insurance agent from Solvang, CA has released the reasons why it is important to invest in life insurance.
Life insurance is one of those things everyone agrees they need but keep shuffling down to the bottom of the things-to-do list. Young people, especially, tend to put off purchasing a policy but being young and relatively healthy is no guarantee there is still time to “get around to it.” The longer one goes without insurance the greater the chances of something else happening first.
“One of the reasons people put off buying life insurance is because they think it is expensive, but it actually ends up being very affordable,” said Torres, the Solvang life insurance agent. “Having life insurance means a family, or even a single person, can prepare for any eventuality. Even a small policy provides a comforting level of protection for the future.”
Here are some reasons to pick up the phone today and get a life insurance policy.
Replace lost income
Life insurance helps provide financial security after death and can be especially important when the insured is the primary wage earner in the family. Adequate coverage provides income for loved ones, helps pay the monthly bills, and the right policy can provide for children’s future education as well.
Pay Burial Expenses
A death in the family is a stressful time. Funeral expenses can cost several thousand dollars and figuring out how to pay should not be a worry. Even though some people pre-pay for funeral expenses there are risks to pre-payment such as the funeral home going out of business. Life insurance can remove the burden of the final expenses.
Pay Off Debt
Unfortunately, our debts don’t die with us. The responsibility for jointly incurred debt just rolls over to the full responsibility of the cosigners. In some cases, creditors can levy claims against an estate regardless of how small that estate might be, and completely wipe out any savings that were intended for heirs. Sufficient life insurance coverage can take care of both debt and the family’s future.
Saving money for children’s college is one way to finance future education, but parents often don’t realize that students from 95-percent of income earning families are eligible for financial aid. A college savings account or investments care calculated into the student’s ability to pay, reducing the amount of financial aid. Life insurance is not considered in the calculations of how much a family must contribute to the cost of college.
Build Cash Value
The right life insurance policy can build up cash value over time. This extra cushion might come in handy if there is a financial emergency or to help take advantage of an unexpected financial opportunity. Or, just let the cash value ride for the future.
Getting the right policy
Along with the reasons just presented, the Solvang life insurance agent says the right life insurance policy can help in the following areas:
- Business Planning: Every business owner and business partner should have life insurance to protect the business, all partners and investors and everyone’s families. If one of the business owners dies, the others are not left holding a financial burden.
- Estate Taxes: A life insurance policy can cover the costs of any potential estate taxes.
Information is the key to investing in the right policy. Rick Torres is the agent to call to discuss the choices and to help choose the right life insurance policy.
Rick Torres State Farm Insurance
540 Alisal Road, Suite 4
Solvang, CA 93463
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