Protect Your Loved Ones with Life Insurance

This Valentine’s Day, you owe it to yourself to show your loved ones just how much they mean to you. By investing in life insurance, you can protect your loved ones. At its core, life insurance helps protect your family from financial hardship in the event you unexpectedly pass away.

It’s essential if you’re the breadwinner and your loved ones depend on you to have life insurance. Life insurance can also be crucial if you have children or own a home or business. While life insurance will never replace you, it can provide some financial protection to your family if and when times get tough.

How Life Insurance Works

As with other insurance types, you purchase life insurance from an insurance company and pay premiums on a monthly, bi-annual, or annual basis. In exchange for your premium payments, the insurer will pay a lump sum of money to your family if you lose your life. Several factors will play a role in the cost of your life insurance policy. These include age, medical history, smoking habits, and dangerous hobbies, to name a few. The younger and healthier you are, the less you’ll pay for your policy. Your beneficiary or the individual you designate to receive the money will need to file a claim to collect life insurance benefits. In addition, the funds will likely come to them in monthly or annual installments once their request is approved.

What Life Insurance Covers

If you make the decision to purchase life insurance to protect your loved ones this Valentine’s Day, in general, it will cover the following:

• Funeral Costs: The average funeral can cost anywhere between $7,000 to $9,000. If your loved ones don’t have this type of cash on hand, they can use some of their benefits to pay for your funeral.
• Wage Loss: If you’re gone, your family won’t be able to rely on your income to support them. Therefore, life insurance can help take care of this.
• Bills and Expenses: With a life insurance benefit, your loved ones can use funds to pay for their mortgage, rent, utilities, groceries, and other typical bills and expenses they need to go on with their lives.
• Childcare: If you have children, there’s a good chance you pay for daycare, extracurricular activities, and/or summer camp. In addition, a life insurance policy can help take care of these expenses and allow your children to continue to receive what they need to lead fulfilling lives.

Consult Your Financial Professional

In conclusion, together we can review your financial situation and determine the ideal insurance policy for your unique situation. Contact us today to get started and protect your loved ones.

SWG1483480-0121b

Disclosure: The sources used to prepare this material are believed to be true, accurate and reliable, but are not guaranteed.  This information is provided as general information and is not intended to be specific financial or tax guidance.

In addition, Malarik Financial Services is the home of the Life by Design Formula™.  This system helps us understand your lifestyle and financial goals. We organize your current investments and develop a plan to help you meet your goals. The process and playbook will help you deal with any circumstance that you face. From the time we meet throughout the rest of your life. In conclusion, contact us today to begin your custom design.