Are you thinking about getting life insurance? Not sure what type and amount of life insurance is best for your needs? No worries. Getting the right policy is within easy reach! I can connect you with a reliable and trustworthy Agent to help you.
Key Points to Consider
- Even though Life Insurance is a beneficiary designated asset, it is still considered part of your Estate and needs to be factored into your overall Estate Plan.
- If you already have a life insurance policy with a large death benefit you should consider a Living Trust Estate Plan, possibly even federal estate tax planning.
- Life insurance can be a great way to provide your family with liquidity to handle your final arrangements, pay off a mortgage, or pay off your liabilities.
- Life insurance can also be a way to further guarantee that you are able to leave an inheritance for your loved ones.
When it comes to determining if you have the most beneficial type of Life Insurance and an adequate amount for your needs, there are other factors to discuss with an Agent.
Things to consider when deciding what type and amount of Life Insurance to get:
- Liabilities – Add up all of your current debts. A term insurance policy can help you plan for these short-term needs.
- Income – The number of years you plan to work x your salary.
- Funeral Expenses – The average funeral costs $10, 000 – $15, 000. A whole life policy can help with funeral expenses and your family’s inheritance.
If you would like to learn more about your options, contact me and I’ll be happy to connect you with an Agent. Together we can figure out the type and amount of insurance you need and how that fits into your Estate Plan.
Give me a call at (517) 708-2222 or email me at Katrina@CornerstoneLegalPLLC.com.