One thing we hear a lot when asking about life insurance is “I don’t need life insurance. I have coverage through work.” While it may be convenient to sign up for something that has no out-of-pocket cost or very little coming out of your bi-weekly paycheck, employer-provided life insurance coverage may not be enough to protect you and your family.
Is your family protected should you take a turn for the worst? Many people have life insurance through work, but the coverage is oftentimes NOT enough. Our guide will explain to you the importance of having a custom life insurance policy that fits your life situation.
Life is constantly changing. From marriage to becoming first-time parents, the many seasons of your life deserve a robust insurance plan to safeguard your financial assets. Life insurance works to protect you and your loved ones during times of change. Have you thought about your financial plan?
Your business is worth $2,000,000 when your business owner dies or becomes permanently disabled. If you have not planned properly, the business might not survive ruining your income stream, as well as the future income of the deceased or disabled partner. If the business does survive, how are you going to come up with $1,000,000 to buy out your partners spouse or estate? If you don’t have the money, did you just inherit an un-wanted partner who knows nothing about the business? [Read more…]
Marriage changes a lot of things, but did you know it also changes your costs and options for life insurance? Below we outline four of the major things to think about life insurance before and after marriage when it comes to your dependents and life insurance costs. If you’re interested in learning more about this from an H&K insurance specialist, you can get a life insurance online quote here. [Read more…]
Life insurance is traditionally thought of as the domain of the provider: those whose income supports others such as spouses and children. So, as long as you have no dependents, you don’t need life insurance, right? Not so fast. Life insurance helps cover some dependents you might have not thought of, as well as some costs that you may have not thought on. So, let’s take a look at five of the top reasons you might need life insurance even if you’re single. [Read more…]
Picked out the ring? Settled on a venue? Finding the perfect honeymoon destination? While you’re planning out the rest of your life together, it’s also important to line up and share your financials with your significant other. It’s not as enjoyable as sampling cake or writing out vows, but it is an integral part of any marriage and is part of that lasting commitment to one another. So sit down, pull up a chair, and spend some time with the one you love talking and pouring over bank statements and insurance forms now to avoid financial pain later when the honeymoon is over. [Read more…]
It is always a good idea to take some time to review your life insurance policy periodically. Life insurance is one of the most basic insurances that has been proven time and time again to be a wise choice. No one hopes to have to use the insurance they purchase, however, if they do, it can make a world of difference.
Retirement plans: two words most people under the age of 40 ignore and those over the age of 50 dread. When you start planning for retirement or looking over the retirement plans provided by your employer – such as a 401(k) – you’ll find out that there are many options available to invest in now and reap the rewards later. While IRAs are usually provided by banks, your insurance agency will provide another option: annuities. [Read more…]
Insurable interest is easy to understand on the surface level. However, in certain issues some things are not clearly defined, something that the courts are trying to establish more definitively. To answer the question “What is insurable interest?” you need to ask another questions “How will this scenario financially hurt me?” Insurable interest is the guideline used to determine such things as exactly who can take out an insurance policy on you or vice versa.