Many people think that getting life insurance is only something that has value when they die. This is not true. If you love those who are close to you, life insurance has a value from the moment you get it because it gives you peace of mind. Also, if you get life insurance that builds up cash value over time, there is the possibility of borrowing funds at a very low cost when you need them in the future.
When you borrow against the cash value of a life insurance policy there is no credit check and the process is very easy. Also, the money you get is tax-free because it is a loan and not income. In this way, life insurance can be part of financial planning that helps the insured person while they are still alive.
Discuss the possibilities of how life insurance of different kinds can be used for the most benefit with your agent at Strack Insurance Services serving Arlington, TX and the surrounding communities.
Life Insurance for Life Changes
Certain events in our lives are excellent times to consider life insurance, which include:
- Growing Up — When you become an adult and move away from home, this is a wise time to get life insurance. Perhaps, you may want to make your parents beneficiaries of the policy because if you are not around when they get older your life insurance proceeds could help them.
- Getting Married — This is the most popular time to get life insurance. If you are clever, you will insure both yourself and your partner.
- Having a Baby — If you have a baby of your own or you adopt one, that is a great time to get life insurance to protect your child.
- Retiring — Life insurance is part of retirement planning so ask your agent about this and the potential tax advantages.
- Leaving a Legacy — You may want to leave some funds for those you care about or charities that you support.
Work with your agent at Strack Insurance Services in Arlington, TX to get the most benefits of life insurance. Call today to get a life insurance review and a quote.