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Life Insurance: 10 Tips

September 29, 2020

life insurance florida

 

Here we are again. It is September and that is Life Insurance Awareness Month. September is an extra important time of the year where we set out to make a bigger push to spend the time to educate our valued customers about life insurance policies. It is financially responsible to carry life insurance when it comes to protecting yourself, your spouse, and your children.

Listed below is a list of life insurance knowledge together with recommendations:

1. Invest in life insurance while you are younger. Even if you do not have a family, mortgage loan or larger financial accountabilities yet doesn’t suggest that you will need to wait to obtain life insurance coverage. Lock in your premiums while you are younger and healthy. You can certainly add additional policy coverage later in life as you need it.

2. Creating a GoFundMe campaign after you are gone won’t create enough of a fund to take care of your children and surviving spouse. Simply put, you don’t want to let that be the legacy that you leave behind for your loved ones. It is important to take responsibility for this possibility while you can.

3. Get life insurance on your children. If anything were to happen to them, it is more than likely you would certainly need to take time off to emotionally cope with this tragic incident.

4. Do not underestimate the price tag to replace the general domestic services provided by a stay-at-home spouse. Think about the outlay for full-time care, daily household support services, etc.

5. When you are a small business owner, what will support your family in the event of your demise? Or, do you possess a small business which is comprised of two or more business partners? Life insurance for situations such as this is imperative.

6. Having permanent life insurance is the best investment vehicle while you’re alive or dead because you acquire tax-free availability to cash values built up in the policy while you are still alive and tax-free death benefit proceeds for your surviving loved ones whenever the inevitable transpires.

7. Up until you obtain life insurance, you do not have policy coverage. Only thinking about obtaining life insurance won’t give security to your loved ones. You need to take action if you have been putting it off.

8. It is far better to possess insurance and not need it than to really need it and not have it.

9. Procure life insurance when you are healthy. It is going to be much simpler to get and less expensive. You won’t just have the right to acquire life insurance coverage. You will need to qualify for it. In the event that you obtain health challenges, you can no longer be eligible to acquire reasonably-priced life insurance protection.

10. If you have never lost a family member who is very close to you, then you might not fully understand the emotional loss along with the paralyzing impact that it can easily cause to surviving family members. Simply put, you will certainly want and require the ability to take some time off from having to think about functioning and earning a living. Having life insurance in place on each of your family members in your home is simply going to furnish surviving family members more choices during a very challenging time.

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Categories: Insurance Tips & Advice, Life Insurance, Uncategorized Tags: child life insurance, cooper city florida insurance, life insurance florida

Lisa Faina is a Trusted Advisor with an insurance agency in Cooper City, Floria, offering numerous insurance products. For over 20 years, Lisa Faina and her team continue to be regarded as a valuable resource to their clients and to residents of Florida..

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Lisa Faina, CIC, LUTCF

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