Create a Lifeline that will Last a Lifetime
Securing life insurance is one of the most important things you can do for your family. Many people are uncomfortable thinking about life insurance because of its association with death. But, in reality, life insurance is about living, not dying.
Having an appropriate level of life insurance gives you the peace of mind to live life to the fullest, knowing that your family will be taken care of if an unforeseen illness, accident, or tragic event takes you from them. In this light, life insurance is actually a tremendous value.
It happens more often that you think…
After running multiple tests, doctors conclude you have an incurable medical condition that may affect the length of life you have remaining.
A million thoughts race through your head. You’re unsure what to do or who to call. Your first priority is your family and who will look after their well-being when you’re gone. Will you might be asking yourself:
How will your spouse stay afloat with all the debt accrued?
Who will save for your children’s college fund?
Where will your family be without you?
Or will you be thinking instead of how you will choose to spend whatever time you have left with them—secure in the fact you have a precisely calculated policy to cover your debt, funeral costs, and a legacy to your family?
There are two types of life insurance policies to choose from:
Term life policies
Term life policies are set up to insure you for a specific period of time. The most common term policies offer coverage for fifteen to twenty years. Depending on the age of insured, premiums start out very inexpensive and increase in costs with your age. Some term life policies even offer the option to convert to a whole life policy when the policy is set to expire.
Whole life or Universal life
Whole life or Universal life insurance covers the insured for the course of their life, even if you live to be 100 years old! An advantage of a universal life policy is that the policy builds cash value that you may borrow against in times of need.
Here to Help
No matter the situation, it is important to know what type of policy best suits your needs, the amount of coverage desired, and most importantly, who the beneficiary will be.
One of the helpful agents at Graham can help you learn more about purchasing the right life insurance policy. Having peace of mind knowing that when you leave this world your family won’t be burdened with financial hardships and that they will be able to maintain their current standard of living is a tremendous reassurance.