Skip to main content

031422 Why Life Insurance?

 

One of the most important expenditures the average family

Makes in its lifetime is the purchase of life insurance.

 

What’s Its Purpose?

 

First, you must understand the purpose of life insurance.

It is to protect against premature death.

Life insurance does not “insure life” so much as it “protects

Your dependents” from the loss of financial support.

 

What Are You Paying For?

 

Second, you must understand what you are paying to protect.

Most people earn from $400,000 to $800,000 during their lifetime.

It is the loss of that earning potential that makes life insurance a

Necessity. Life Insurance is a substitute for the cash and other

Wealth that your family would accumulate if the breadwinner

Were living.

 

What Should You Buy?

 

Third, you must understand what kind you should buy.

 

In the early years you need a lot of coverage …

1. Children young.

2. High debt

3. House mortgage.

4. Loss of income would be devastating.

 

A 20 Year Term Policy on the breadwinner would be sufficient to cover this scenario.

For example: For a family with two children, $100,000 + $50,000 + $50,000 equals $200,000 on the breadwinner for adequate protection for the family. $200,000 of life insurance would give survivors and annual income of $22,300 per year for 20 years (assuming that the insurance proceeds earn 10% with annual compounding interest and that income is payable in monthly installments.)

 

In the later years you don’t need a lot of coverage …

1. Children grown.

2. Low debts.

3. Mortgage paid.

4. Retirement income needed.

 

We recommend a Whole Life Policy in this scenario.

For example:  $10,000 Natural Death

                   $10,000 Accidental Death

 

This would presently cover basic final expenses.

 

- Art Williams

 

Edited by Hayden Childs

Alabama Licensed Agent

 

(205) 269-1382

Shcmail34@yahoo.com

 

www.haydenchilds.net

 

 

Offering …

Whole Life, Term Life, Accidental Death,

Critical Illness (cancer, heart attack, stroke)

Medicare Advantage, Hospital Indemnity,

Health, Dental & Vision Coverage

Renter’s (contents) Insurance.

 

 

 

“The Grief is bad enough,

Don’t Leave the Burden

To Your Family!”

 


 

Comments

Popular posts from this blog

022823 The 9 Benefits of Whole Life Insurance...

(1) Provide for Loved Ones…   It’s the basic need everyone thinks about. You have a young family. You are the major breadwinner. Something happens to you. How is Your family supposed to make ends meet? It’s a form of protection. Peace of mind.   (2) Key Man Insurance…   You and your partner own a business. It’s grown. Many employees Depend on you. If something happens to your partner, it’s likely their Spouse or family will inherit their share of the business. Cash would Be a lot more useful to them. Life insurance on both partners can Provide the cash to buy out heirs and keep the business intact.   (3) Emergency Loans…   Hopefully your client lives a long life. The whole life policy accumulates Cash value, eventually growing to the full face value, or beyond. Many Policies allow you to borrow money against the cash value. You would pay interest.   (4) Funding Estate Taxes…   Your client owns a farm. I...

101724 What Cancer Cannot Do...

“Cancer can take away All of my physical abilities. It cannot touch my mind, It cannot touch my heart, And it cannot touch my soul.” Coach Jim Valvano *** What Cancer Cannot Do Cancer Is So Limited Cancer Cannot… Cripple love! Corrode faith! Eat away peace! Kill friendship! Silence courage! Invade the soul! Quench the spirit! Destroy confidence! Reduce eternal life! Erase the promises of God! Obliterate happy memories! Shatter the hope of Heaven! Lessen the power of the resurrection! Keep the faithfully obedient from Heaven! - Dr. Robert L. Lynn *** To all walking this road… Blessings and love. Cancer took away from me Two special ladies in my life. My mother and mother-in-law; Knowing I will see them again And knowing they are in a Better place gives me hope And comfort. - Hayden Childs *** Don’t worry your life away Waiting for the elusive prize At journey’s end. The journey is the prize. - Marsha Mercan  *** In this world it is not what we take up, but what we give up, that make...

083121 Do You Know the Whole Life Story?

  Change comes at us from every angle as people update and upgrade everything from their diets to their devices, seemingly every day. When we enter adulthood as a young professional, we never imagine that we are only a couple dozen phones or a handful of trendy diets from marriage, parenthood or even retirement. Diets and devices can be great, but not all change is good, right? At every stage of life, financially confident people know that they can embrace the good and safeguard against the not-so-good with solutions designed to do just that. Enter: whole life insurance. Not just your parents’ insurance, whole life can actually benefit you no matter where you are in life.    THE BEGINNING: YOUNG PROFESSIONALS    When we’re young and focused on our dreams, we rarely consider the possibility of an unexpected, devastating change. What would happen if you died prematurely? It may be unsettling to think about, as it would be very painf...