Life Insurance

Life insurance can be more than a safety net. It also can be the foundation for a sound financial and investment plan.  Clients work hard to give their loved ones every advantage, and our advisors strive to assure each client’s family has the financial resources to maintain their lifestyle in the event of the death of the primary breadwinner.  While nothing can replace a family member, life insurance can help ensure a family has the financial security necessary to live their dreams.

Because new life insurance products and strategies are introduced continuously, our team assists clients with analyzing the many options.  In addition, ongoing reviews of existing policies are important because the average American with a spouse/partner or dependents is under-insured by $1.2 million4 and has enough life insurance to replace just 16% of income.5  Our advisors also recommend clients regularly review and update the beneficiaries of their life insurance policies. 

Although life is more than a balance sheet, money matters.  Life insurance can be utilized in many ways to protect families in the event of the death of a loved one.  These include:

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  • Replacing income and/or creating savings for dependents
  • Paying final expenses
  • Creating an inheritance for heirs
  • Paying taxes
  • Making significant charitable contributions

The time to research life insurance options and purchase the policy that is best suited to your needs is now.  Premiums are generally lower when you are younger or in good health.  Waiting only increases your risk of becoming uninsurable.  

Insurance is typically divided into two main categories:  term and permanent.  However, there are many different options within each category.  In addition, coverage is available through some employers.   Because life insurance is believed to be the foundation of sound financial planning, clients should work with a financial advisor to select the coverage that best fits their needs. 

4 Nationwide Financial, Insure your biggest asset, 2013.

5 LIMRA, Facts about life 2013, September 2013

* Life Insurance offered through RJFS and Woodforest Financial Services, Inc.

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