Why Life Insurance Should Be a Fundamental Part of Your Financial Plan

Why Life Insurance Should Be a Fundamental Part of Your Financial Plan

There are plenty of elements to a sound financial plan. It frequently starts with a solid, workable budget you can live with. There are short and long term investment strategies. It may involve the purchase of real estate, the acquisition of liquid assets and retirement planning.

As assets become increasingly valuable and important in your financial plan, protecting them becomes more and more vital. It is the primary purpose of loss prevention products like homeowners insurance. One often under-appreciated asset you have is your ability to make a living. It is why life insurance should be a fundamental part of your financial plan.

Consider, for example, that if you make $50,000 annually, you will generate a million dollars over the next 20 years. If you make $100,000 annually you’ll achieve that mark in just ten years. You are, in fact, like a money making machine. How would your family reproduce that income in the event of your death? It can be accomplished through life insurance.

Life insurance assures that in the event of your death, a certain amount of your income would be replaced through proceeds from the policy. One of the best aspects is that you can choose just how much of that income you insure. You could replace several years of income or provide for your home and debts to be paid. You can decide to secure enough coverage to pay for your children’s college education or to leave a trust fund.

You may be surprised at just how affordable even a significant amount of life insurance coverage can be. Term life insurance, particularly when purchased young enough, is often a good option. To discuss your choices, please contact one of our independent life insurance agents today. We can go to work, comparing the rates from a variety of companies we work with. You decide your budget, you determine the coverage.

Having a solid financial plan is an excellent path to the future. Just make sure you are sufficiently protecting your assets including your life. We can help. We look forward to assisting you.


Do you have questions about your insurance? Find an insurance agent near you with our Agent Finder

Buzz Your
Insurance Agent

Search for a local agent with our agent finder map.

Agent Finder

Search All Blogs

Search
Generic filters
Exact matches only
Search in title
Search in content
Search in excerpt

Buzz Your
Insurance Agent

Search for a local agent with our agent finder map.

Agent Finder

Want to learn more about
our blog writer?

Read more about KayLynn's background.

Search All Blogs

Search
Generic filters
Exact matches only
Search in title
Search in content
Search in excerpt

The Two Biggest Factors That Make Life Insurance Rates Increase

Age and Health Are the Biggest Contributors to Increasing Life Insurance Costs

Life Insurance: Buy What You Can Afford

Buying a Large Amount of Life Insurance May Be Pointless If You Can’t Afford It

Why an Independent Agent is Your Best Option for Life Insurance Quotes

Choice is Good. It’s Just One Reason an Independent Insurance Agent May Be Best for You.

Getting Married? Now’s a Good Time to Consider Life Insurance

Marriage is one of those benchmark times when you should have your life insurance reviewed. We can help.

Why Life Insurance Should Be a Fundamental Part of Your Financial Plan

How Are You Protecting Your Money Machine?

What is Decreasing Term Life Insurance?

Is Decreasing term Insurance Right For You? Would You Know?

Three Ways Life Insurance May Help Pay For College

How Life Insurance Can Play a Role in the Education of Your Child

Life Insurance as a Gift

Who Do You Know that Can Benefit?

What it Takes to Qualify as a Beneficiary

Do you have the right person as the beneficiary on your life insurance policy? Here’s who you should consider and when you may want to consider a change.

Unique Benefits of Life Insurance You May Not Be Aware Of

There’s More to Life Insurance Than You May Realize

Leave a Comment