Find Affordable Life Insurance
THE IMPORTANCE OF HAVING LIFE INSURANCE
When we die, a majority of us will leave behind possessions and assets. More importantly, we’ll leave relatives and loved ones behind to handle the aftermath. The emotional impact of death is difficult to guage, but death has legal and financial impacts as well. Taxes, funeral expenses, and legal expensesa can increase the level of difficulty for the situation your grieving loved ones have to deal with. The good news is, life insurance provides much-needed financial relief.
NINE BENEFITS OF LIFE INSURANCE
- Peace of Mind
- Pays a Lump-Sum Benefit
- Payouts are Generally Tax-Free
- Multi-Pollicy Discounts
- Can be Bundled With Other Policies
- You Can Increase/Decrease Benefit
- Some Policies Have Cash Value
- Many Have An Advance Benefit
- Buying Early in Life Lowers Cost
Important Questions to Ask
What is Life Insurance?
At its most basic, life insurance requires regular premium payments in exchange for a tax-free lump sum of money paid to your chosen beneficiary when you die. The beneficiary can use the money, called the death benefit, to pay off your mortgage, funeral costs, and other expenses.
When you talk with Parrish Insurance Consulting about this invaluable insurance, you’ll learn that it comes in several different forms, including the following:
- Term Life
- Whole Life
- Mortgage Protection
Why Buy Term Life Insurance?
Term life insurance protects your family against the unfunded liabilities or debt that you may leave them in the instance of your unexpected death — from mortgage loans to car debt, credit card debt, medical bills, and more.
Many people forget that medical bills can be very costly. There are often loved ones left with hundreds of thousands of dollars of incurred medical bills after a death, on top of funeral costs and other forms of debt. Having term life insurance can protect your family from enduring this pain and stress during your pre-retirement years, when you typically have the most debt. Please contact our insurance brokers for a consultation to determine which term life insurance policy and coverage amount is right for you.
Why Buy Whole Life Insurance?
Whole life is an insurance product that will typically payout when you pass away, alleviating your family members of the end of life costs such as:
- Medical Bills
- Legal fee related to wills and probate
Whole life insurance can also be used as an asset. During your living years, many whole life insurance plans carry cash value and can have a “living benefit”. A living benefit can help you in the case of being admitted into an assisted living facility, cancer treatment, or other costly events in your retirement years. This insurance policy can also act as a tax-free retirement option for you. Contact our independent insurance agents for a consultation on what type of coverage would be best for you.
Why Buy Mortgage Protection Insurance?
Mortgage protection is a form of term life insurance that is designed to pay off your mortgage in the event that you pass away before your mortgage is paid off. It can also pay your mortgage in the event you become temporarily disabled and cannot work. Some mortgage protection insurance policies can even include a “Return of Premium”. At the end of your term, whether it be ten, twenty, or thirty years, all of the premiums you have paid into your policy will be refunded in full. Many use this option to pay off their house early. Please contact us for details on how to take advantage of this option.
The list above represents a mere slice of your options when it comes to life insurance, which is why it’s so important to consult with our experts. We have more than a decade of experience and access to more than 20 insurance carriers, which means no one can beat the life insurance coverage options we’ll offer you. Most importantly, we listen to your needs and go the extra mile to fulfill them. Start a conversation with us in Houston today.