Life insurance protects your spouse and children from the potentially devastating financial losses that could result if something happened to you. It provides financial security and helps pay debts, living expenses, and any medical or final expenses.
If you have a family, a business, or others who depend on you, the life insurance benefit of a whole life policy acts as a financial safety net. When you die, your beneficiaries receive a lump-sum payment that is guaranteed to be paid in full (provided all premiums are paid and there are no outstanding loans). It’s essential protection that you can count on to be there for your loved ones when needed most.
SOMETHING ELSE TO PONDER
Your family depends on your income and life insurance can replace that income when you die. Parents with young children need to protect not only their spouse but their children as well. Most government or employer-sponsored benefits of the surviving spouse will not be enough to support the family. Life Insurance fills the gap.
If you’re concerned about leaving your relatives an inheritance, then consider that even those with no other assets to pass on can create an inheritance by buying a life insurance policy and naming their heirs as beneficiaries. Your beneficiaries will enjoy every penny you leave them. The benefit of a life insurance policy is generally not subject to federal income tax.
WHOLE LIFE POLICY
Purchase a whole life insurance policy and you have the option to receive dividends. When you pay your premiums, Whole Life policies build cash value that is guaranteed to grow. The cash value is tax-deferred and can help meet a variety of financial goals, like:
- Supplement retirement income
- Help fund a child or grandchild’s education
- To pay off a mortgage
- To protect existing assets; and
- Establish an emergency fund
Discuss your life insurance goals with me, so I can help you choose the right plan that works best for you. I service Texas, Oklahoma, Louisiana, and Illinois.
For a Free Quote, contact Bethany Montgomery at 936-220-2133