-   OFF
  -   OFF
Agriculture Agriculture
Animals & Pets Animals & Pets
Appliance & Electronics Appliance & Electronics
Appliance Repair Appliance Repair
Arts & Entertainment Arts & Entertainment
Auto Repair Auto Repair
Automotive Automotive
Beauty & Wellness Beauty & Wellness
Beauty Salons Beauty Salons
Blacksmith/Ironworks Blacksmith/Ironworks
Business Services Business Services
Cannabis Related Cannabis Related
Cleaning Services Cleaning Services
Community Community
Concrete Contractors Concrete Contractors
Contractors Contractors
Dance Studios Dance Studios
Drywall Contractors Drywall Contractors
Education & Schools Education & Schools
Electrical Services Electrical Services
Finance & Insurance Finance & Insurance
Flooring Contractors Flooring Contractors
Food & Beverage Food & Beverage
Health & Medicine Health & Medicine
Health Insurance Health Insurance
Home Services Home Services
HVAC Services HVAC Services
Information Information
Landscaping Services Landscaping Services
Legal Legal
Life Insurance Life Insurance
Manufacturing Manufacturing
Mining Mining
Moving Services Moving Services
Other Other
Painting Services Painting Services
Personal Services & Care Personal Services & Care
Pest Control Pest Control
Plumbers Plumbers
Pool Services Pool Services
Power Washing Power Washing
Professional Services Professional Services
Public Administration & Social Services Public Administration & Social Services
Real Estate Real Estate
Remodeling and Repair Remodeling and Repair
Roofing Services Roofing Services
Septic Services Septic Services
Shopping - Food & Beverage Shopping - Food & Beverage
 
Shopping - Retail & Lifestyle Shopping - Retail & Lifestyle
Sports & Recreation Sports & Recreation
Storage Services Storage Services
Transportation Transportation
Travel & Lodging Travel & Lodging
Tree Services Tree Services
Wholesale Wholesale
No filters selected. Distance + Rating + Categories:

Windfall Insurance Services Inc

  (0) Reviews

Why Life Insurance?

Posted By Carlos
On 5/29/2020

Understanding the different types of life insurance and choosing the one that’s the best fit for your family can seem difficult and overwhelming. What is life insurance? How much will a life insurance policy cost? What kind of life insurance policies are out there for you and your family? We’re glad you asked! In this quick article, we’ll help breakdown some life insurance basics.

 

What is Life Insurance?

Life Insurance is a policy that gives your loved ones a tax-free lump sum of money upon your death. The amount of life insurance coverage you need will depend on a few factors like your family’s sources of income, your lifestyle, your debts and the number of dependents you have. For a more precise number, ask the experts here but as a rule of thumb, you should consider at least 10-12 times your annual income.

Life Insurance Costs & Types

The cost of life insurance depends primarily on your projected life expectancy and of course coverage amount, coverage type and length of term. When determining life expectancy, factors like gender, age, health, medical history, occupation etc. will be considered. For example, a healthy 30 year old male can expect to pay around $300 a year for $300,000 worth of term life insurance.

There are a few different kinds of life insurance available, but here is a quick breakdown of some of your options:

  • Term Life Insurance: This type policy provides coverage at a fixed rate for a specific frame of time. This can help with short-term debts and give you added protection during child-raising years. This type of policy provides a death benefit but typically has no cash value.
  • Whole Life Insurance: This type of policy provides permanent coverage at a fixed rate as long as premiums are paid or to the maturity date of the policy. This can help protect your family’s future as the policy builds cash value that grows tax-deferred.
  • Universal Life Insurance: This type of policy provides permanent coverage with low, flexible premiums and an investment element. This can also help protect your family’s future as the policy builds cash value that grows tax-deferred.

 

Why Life Insurance?

Life insurance is an essential part of financial planning. It will help cover end of life expenses (which average around $10,000), it will protect future plans like college and retirement for your loved ones and can pay off debt like student loans or mortgages for the family you leave behind. Avoid the what-ifs and worst-case scenarios for your loved ones by talking to an agent about life insurance today.

>Take Action

-
-