At Breedlove Insurance, we’ll help you determine not just the appropriate amount of coverage but what type of life insurance is right for you, right now.
One of the questions we are often asked is “How much life insurance do I need?” The client can get a quick answer by using this online calculator: (Click here)
For a more complete analysis, as a service to our clients, we provide a sophisticated, no-cost asset needs analysis. This will require we get together for one or more meetings. If you’re interested, give us a call.
Because your life insurance needs will change as your life changes, we contact our life insurance clients regularly to review their coverage. You may need to review your life insurance coverage if you have have changes if any of the following apply:
- There have been changes to your marital status
- There have been changes to the number and ages of your children
- You have added other dependents, such as aging parents who depend on you for support
- It is time to plan for preserving your estate and protecting it from “death” taxes
- You have assets tied up in a business, real estate or other non-liquid investments.
- You have formed a business partnership.
Types of Benefits
While you are living, life insurance can assist you financially:
After your death, the benefits from your policy go to your named beneficiaries without federal income taxes:
- Your family or loved ones can use this money to pay funeral expenses, debt, tuition, estate taxes or any other financial need they have, after you are gone.
- Your business partners can use the money to buy out your interest in the company and prevent a forced liquidation.
Types of Life Insurance
Term Life Insurance provides insurance protection for a specified period of time—usually 10, 20 or 30 year periods.
Universal Life Insurance is the most popular type of permanent life insurance, offering flexible premiums and flexible face amounts. Universal life insurance builds cash value. Consider one of the newer Equity Indexed policies.