Life insurance is often overlooked until a significant life event or change happens. Regardless, it can be managed with the proper conversations ahead of time.
September is identified as Life Insurance Awareness Month (LIAM) to help educate Americans on the importance of life insurance, the role it plays in protecting families’ financial security, and how they can get the coverage they need.
As always, if you have any questions, or you’d like to understand your options better, call and schedule a meeting today.
The cost and availability of life insurance depend on factors such as age, health, and the type and amount of insurance purchased. Before implementing a strategy involving life insurance, it would be prudent to make sure that you are insurable by having the policy approved. As with most financial decisions, there are expenses associated with the purchase of life insurance. Policies commonly have mortality and expense charges. In addition, if a policy is surrendered prematurely, there may be surrender charges and income tax implications. The guarantees provided by the insurance company are contingent on the claims-paying ability of the issuing company.