Granville Waiters Consulting Services

Whether we’re experiencing a strong economy or in a tough recession like today, the need for life insurance is always paramount. The primary purpose of obtaining life insurance coverage is to provide survivor income to loved ones should death occur.

Life will never be free from uncertainty. But when uncertainty is minimized, life can be maximized. No matter what stage of life you are in, if someone depends on you financially, you should consider reducing their uncertainty by protecting them with life insurance. In the event of a tragedy, life insurance proceeds can:

 

• Help pay the bills and meet ongoing living expenses

• Pay off outstanding debt, including credit cards and your mortgage

• Finance large, future expenses

• Help pay for college

• Protect a spouse’s retirement plans

• Attract and retain key employees

• Replace some or all of your income

• Cover funeral costs

• College tuition

 

One could argue that life insurance is even more critical in a down economy like we find ourselves facing today. With the unemployment rate rising and more and more people losing their jobs, it becomes even more important to have life insurance coverage to provide the means for surviving family members to carry on should a family provider pass on unexpectedly.

 

Life insurance can provide your family members the resources to maintain their lifestyle when you die.

Life insurance is important, as it protects your family and lets you leave them a non-taxable amount at the time of death.

Securing your family's financial well-being today – and down the road — is a top priority. Find the life insurance that helps protect your loved ones while also helping you meet your financial goals and needs.

 

Unfortunately, many working individuals have life insurance only through their employer which is often not portable. As a result, many laid-off workers find themselves without any life insurance protection at all. Now more than ever, people are taking control of their own life insurance needs rather than counting on employer benefits. Whether they choose permanent, term or some combination of the two, they own and control their life insurance. It can’t be taken away from them unless they fail to pay the premium.

 

Living Benefits

 

Life insurance allows you, the policy owner, to build cash value through your life insurance policy that accumulates over your lifetime. This is considered a living benefit of life insurance because, in contrast to a death benefit that pays out when you pass away, you can use the money while you're still alive. A properly structured Life Insurance policy has many effective economic strategies to utilize during your life time.

Some of the living benefits are:

 

• Long-term care

• Chronic illness coverage

• College funding

• B.Y.O.B. (Be Your Own Bank)/Private Reserve Strategy

• Grow your money tax-free with zero risk

• Retirement – tax-free, zero risk, and life-time income