Life Insurance Who needs Life Insurance

Who needs life insurance ?

“If someone will suffer financially when you die, chances are you need life insurance. Life insurance provides cash to your family after your death. This cash (known as the death benefit) replaces your income and can help your family meet many important financial needs like funeral costs, daily living expenses and college funding. What’s more, there is no federal income tax on life nsurance benefits…… ”Life Insurance Resources
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Term Life Insurance, Life Insurance

68 million Americans do not have Life Insurance

“A recent survey indicates that 68 million Americans have no life insurance and those with coverage have far less than most experts recommend to ensure a secure financial future for their families. In fact, ownership of life insurance has been declining for decades and the impact is being felt in very human terms today. When a loved one dies without adequate life insurance coverage, surviving family members often face very difficult financial consequences like having to work additional jobs or longer hours, borrow money from friends and family, move to smaller, less expensive housing, or put plans for a child’s education on hold.
With so many Americans in a financially vulnerable situation today, the life insurance industry has created a month-long public awareness campaign aimed at encouraging the public to take stock of their life insurance needs. Life Insurance Awareness Month (LIAM) is an industry-wide effort coordinated by the nonprofit Life and Health Insurance Foundation for Education (LIFE)…

Why Term Life Insurance

Why Term Life Insurance Kentucky?

• It can provide a large amount of protectoin at a lower cost than permanent insurance.
• You decide how long the coverage is needed and purchas the term length that best suits your needs.
• It gives you peace of mind that your outstanding financial obligations will be met in the event of your untimely death .
• Its perfect for mortgage protection, families with young children or business owners seeking coverage for key employees

call Mike Watts at Dick Watts Insurance for Free Term Life Insurance QUOTE
502-245-3625

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Why Should I buy LIfe Insurance

Term Life Insurance
Why Should I buy Life Insurance? ….This is a great question

Why should I buy life insurance? …

Replace income for dependents
If people depend on your income, life insurance can replace that income for them if you die. The most commonly recognized case of this is parents with young children. However, it can also apply to couples in which the survivor would be financially stricken by the income lost through the death of a partner, and to dependent adults, such as parents, siblings or adult children who continue to rely on you financially. Insurance to replace your income can be especially useful if the government- or employer-sponsored benefits of your surviving spouse or domestic partner will be reduced after your death.

Pay final expenses
Life insurance can pay your funeral and burial costs, probate and other estate administration costs, debts and medical expenses not covered by health insurance.

Create an inheritance for your heirs
Even if you have no other assets to pass to your heirs, you can create an inheritance by buying a life insurance policy and naming them as beneficiaries.

Pay federal “death” taxes and state “death” taxes
Life insurance benefits can pay estate taxes so that your heirs will not have to liquidate other assets or take a smaller inheritance. Changes in the federal “death” tax rules between now and January 1, 2011 will likely lessen the impact of this tax on some people, but some states are offsetting those federal decreases with increases in their state-level “death” taxes.

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from Dick Watts Insurance 502-245-3625

Other Reasons to buy life insurance

from the Insurance Institute

Life Insurance