Life Insurance | Curtis Insurance Agency

Life Insurance

Why buy life insurance?
  • Personal Protecting your family and loved ones is high priority. We all want our loved ones to thrive, be healthy and successful with their lives and a tragedy of something happening to you, could slow or hinder their journey in life…. If something were to happen to you today, would your loved ones be left to struggle with a financial burden (mortgage/debts/car loans)? Would they have the funds to continue their lifestyle? Their education?
  • Business Loss of a partner or key person can cripple a business. Insurance can help to replace the lost income that a key person was producing or fund the process of finding a new owner.
  • Develop a legacy to pass funds to future generations, gift your favorite charity or fund your retirement.
  • Final expenses The average funeral cost between $5,000 and $15,000, how would your household budget be impacted with a large expense? Final expense whole life insurance policy can protect your family from having to sell assets or tap into investments to cover final expenses.
Who needs life insurance?
  • Single Individual A single person may have a need for insurance to help take the burden of paying final expenses off of their family. There could be a need for funds to help meet the financial obligation of a loan or credit card debt.
  • Married A married couple may have the need for final expenses, for replacing income so that the surviving spouse can remain in the home and continue with the same lifestyle.
  • Married with kids A married couple with kids may have the need for final expenses, for replacing income so that the surviving spouse and family can remain in the home and continue with the same lifestyle. They may also look to fund for their kid’s future education.
  • Single parent A single parent may need insurance for final expenses and to take the financial burden off the loved one who will care and provide for your children.
  • Stay at home Mom/Dad A stay at home Mom/Dad may need coverage for final expenses, and funds to care for the little ones for child care, housekeeping.
  • Children This provides the protection of insurability for children. If a child develops a disease, gets involved in a dangerous hobby (pilot/sky diving/bungee jumping) or develops an unhealthy habit like smoking, they may find that the cost of insurance is very high or they are no longer eligible for life insurance.
  • Empty Nesters Empty nesters may need insurance for final expenses, and other financial obligations. Since people are living longer, long term care coverage is a consideration.
  • Business Owners Business owners may wish to create a lump sum of cash to fund a buy-sell agreement at death.
What options are available?
  • Term Provides a low-cost insurance benefit for a specific time period such as 10 years, 20 years and 30 years. There is no return of premium after the insurance has expired.
  • Whole Life Provides long-term protection that lasts your entire life, while also building a cash value.
  • Annuity To make sure your money—and your lifestyle—will last as long as you do, you provide a lump sum of money (from an employer account, IRA or savings) to an insurance company and in return you get a guaranteed stream of regular payments for the rest of your life (or for some specified period).
  • Disability Replaces your income while you are injured or sick and unable to work.
  • Long-term Care (LTC) This is the care you receive, when you cannot take care of yourself for an extended period of time. This is care you may receive at home or in an assisted living facility. It can exhaust your financial assets very quickly. Reasons to purchase:
    • If you don’t want to burden your family
    • To protect your assets (this includes your home equity, savings, and retirement accounts)
    • Medicare will not pay for long-term care
Life events that may need life insurance
  • New child or grandchild
  • Change in marital status
  • Purchase of home
  • New job or promotion
  • Death of a family member
  • Retirement
  • Start or purchase of a business
  • Change in business ownership such as a new partner
Insurance Tips
  • How much life insurance to you need? Consider your financial goals and the obligations that you want to continue. See THIS LINK for a worksheet.
  • When to buy life insurance? The best time to buy life insurance is when you are young and in good health.
  • Review your beneficiaries on an annual basis. As your life changes, you may need to change your beneficiary to reflect who you want to receive the funds if something happens to you.