Family Protection & Individual Retirement Life Insurance Planning

Life Insurance as Key Component to Sound Financial Planning

Life Insurance

No one likes to think about it, but Life Insurance is an essential component of protecting your family in the event that you happen to pass before your time.

Life Insurance comes in many different varieties. As your Agent, I identify your insurance needs then structure a Portfolio of Polices that not only meet your expectations but exceed your Financial Goals. I do so by taking a Long-Term approach to your customized planning.

There are two types of coverages: Term & Permanent Equity Components

Term is simple to understand. Like its namesake, Term Policies ensure you and your family for a specified period of time. Term coverage is tied to Income Replacement & Liabilities such as Home Mortgage. These policies provide the most coverage at the most affordable premiums. There is a downside, if you place a 10-year policy and pass in year 11 the policy is no longer enforce and, thus no coverage and protection will be there when your loved ones need it.

There is Permanent Life Insurance or Whole Life (Cash Value) which accumulates small savings. Many utilize these policies to Supplement Retirement Income as the Cash Value is accessible to policy owner with no restrictions or tax penalties, Policy Owner has complete autonomy of use of funds as living benefit. Traditional Whole Life and Guaranteed Custom Whole Life are all specific types of Permanent Life Insurance.

How Much Coverage Do You Need?

There are several factors that determine the proper amount of coverage you need. The most common approach is to simply buy a policy based on income replacement. You straight-line the Annual Income by the number of desired protection years. I like to walk my clientele through a process that usually suggests a minimum of 10 and maximum of 20 years of coverage.

Many of us determine our needs unfortunately by price. I explain to my clients if you seek a policy that’s cheap, it most likely will lack value. If you seek value, then the policy will not be cheap! Let’s talk at your earliest convenience. I would like to work with you and your family today.

Click on link below and schedule a complimentary Traditional Telephone conversation or utilize the Zoom platform to have an initial consultation. As your New York Life Agent, I'm here to help. There's no better time than today. Your family and certainly your future self will thank you.

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