LIFE INSURANCE SOLUTIONS
BUYING A HOME
Getting married is a wonderful thing. It also means sharing life’s risks with someone who you want to be sure can carry on financially without you. Divorce agreements, on the other hand, often include a life insurance obligation. Let the experts at Incenter Insurance Solutions assess your personal situation and get you the appropriate coverage at the best price possible.
Buying A Home
It’s devastating. The primary family breadwinner passes unexpectedly in their 30s, 40s or 50s. The remaining spouse and children have to face the fact they can’t afford to stay in their home. Purchasing life insurance when you buy your first home, and then making sure the policy is periodically reviewed as your home’s value and carrying costs increase (or if you move), is a financial planning imperative.
Yikes! Did you know that it costs, on average $250,000 to raise a child to the age of 18? And that’s before college. Having sufficient life insurance means your kids will be able to have the kind of childhood you want them to have; free from financial stress and worry.
The cost of a college education has reached an all-time high: $166,000 for four years of private college or university and $60,000 at public schools. And it would be devastating if your child or children had to drop out of school because you were no longer there to pay the tuition. The right life insurance coverage will save the day and their dreams of graduation.
Changing jobs usually means a change in income, maybe even a move to a new city or town. Your new employer may or may not offer adequate life insurance coverage; especially if your family has grown along with your career. There’s only one way to find out — our life insurance experts will give you a fair and honest assessment of what’s available to you and whether or not you may need to supplement it to maintain your family’s quality of life.
While most of us carefully plan out how much money we will need to see us through our golden years, life insurance often gets left out of the equation. And yet, having the right life insurance, and updating beneficiaries and allocations, is just as critical after you retire as it was before.
Group: Employee benefit that provides a death benefit to the insured's beneficiaries.
Group life insurance is offered by an employer or another large-scale entity, such as an association or labor organization, to its workers or members.
Term Life: Coverage for an unexpected loss in a specific period of time.
Term life insurance is the most cost effective option, and is what most people are referring to when they talk about life insurance policies. You pay a premium and in return, the insurer guarantees to pay your beneficiary a lump sum of money if you die while the policy is in effect.
Whole Life: Whole life is a type of permanent life insurance.
A Whole Life Insurance policy provides lifelong protection and includes “cash value” which grows steadily throughout the life of the policy. The death benefit of a whole life policy is typically paid to the beneficiaries tax-free and the cash value grows tax deferred.
Single Premium Life: A lifetime of benefits in just one payment.
This single premium whole life insurance policy provides lifetime protection with only one premium payment. No additional payments will ever be required.