If you're the one that provides the stable income for your family, it's extremely important that you have life insurance. What would happen if your family no longer had that income to support them? While it may be difficult to think about, life insurance should be thought of as a gift to your family. In the event that something happens to you, the life insurance policy will provide income replacement so that your family can continue to pay the bills and live as they did before you were gone. Consider your monthly income stream when deciding how much life insurance you need. Everyone's situation is different so make sure you look at multiple death benefit amounts to decide what limit you need and amount you can financially afford.
Without life insurance, your family will be responsible for all your outstanding debts, as well as new expenses incurred during your passing. This can include burial costs, medical expenses, credit card debts, etc. In addition, a life insurance policy's death benefit might be able to pay off a mortgage, supplement retirement savings or fund your child's college tuition. Your family may also incur additional expenses such as the need for childcare, lawn services, repair work or other services that were previously handled by the insured. When choosing a life insurance policy, you should consider all these types of expenses and how much your family would need to cover them after your passing. In addition, the life insurance policy can also be earmarked to pay estate taxes so that your heirs will not have to liquidate other assets to do so.
As your insurance agent at the Lake of the Ozarks, I can help you figure out your life insurance needs and what will work within your budget. Don't leave your family vulnerable to a financial burdens, give me a call at 573-348-2794 to discuss a Lake of the Ozarks life insurance policy today. For all your insurance needs, Insure the Lake has you covered!
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About the Author: Steve is a double back-flip insurance ninja. He was named Young Insurance Agent of the Year by the Missouri Association of Insurance Agents in 2010 and is a Certified Insurance Counselor. When he is not helping customers, he enjoys community service, Latin dancing with his beautiful wife and going on adventures with his two awesome sons.
Steve Naught, CIC
3736 Osage Beach Parkway
Osage Beach, MO 65065
Next to Golden Coral
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