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Home Page

• What is life insurance?
• Do I need life insurance?
• I already have life insurance
• What types of life insurance are available?

What is life insurance?

The very simple answer is-life insurance is a means of providing financial support to your loved ones upon your death.  It is a legal contract with an insurance company (insurer), whereby the insurer promises to pay a pre-deternined amount of money to your beneficiary(s) in the event of your death.  Life insurance can also be used as a tool for charitable giving; education funding; or retirement and estate planning.

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Do I need life insurance?

There really is no definite "all the time" answer to this question. Personal circumstances will differ, sometimes drastically, but here are some things to think about in making your decision:

You may need life insurance if . . .

• You have a spouse whose financial support depends on you.
• You have children who depend on you for financial support.
• You have a disabled relative or parent who depend on you.
• You have a lot of debt.
• You have a mortgage.
• You own a business.

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I already have life insurance

Most people probably own at least one life insurance policy or have one that has been passed down to them from a parent or grandparent and that is great, but the problem oftentimes is that the life insurance program has not been reviewed and updated in many years, and in some cases--never.   An annual life insurance review will not only make sure your program still meets your needs, but will also insure that the beneficiary(s) and other information are current.

Your life insurance program may need to be reviewed, if:

• you have started a business
• you have gotten married or divorced
• you have more children, either born or adopted
• you have been promoted on your job
• you have purchased a home, a new car, or just more debt
• you are now responsible for the care of an aging parent or disabled relative
• you or your spouse has received an inheritance

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What types of life insurance are available?

There are two basic types of life insurance, which may have different variations:

• Term Life Insurance
• Permanent Life Insurance

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