Risk & Business Magazine General Insurance Service - Page 26

LIFE INSURANCE

We ’ ve Got You Covered With An Umbrella , But Your Life Insurance Isn ’ t Under It

BY : JILLIAN MARTINEZ , INDIVIDUAL BENEFITS ADVISOR , GENERAL INSURANCE SERVICES

Pat yourself on the back . Your umbrella policy puts you ahead of the risk mitigation curve ! But we noticed that you don ’ t have life insurance with us . Maybe you ’ ve got coverage through your job , but that ’ s not a reliable plan .

Let us round out your liability protection package with life insurance that safeguards the people most important to you . And here ’ s a bonus : life insurance policies offer tax advantages that other planning mechanisms don ’ t have .
LIFE INSURANCE IS LIKE AN UMBRELLA FOR YOUR LOVED ONES
Think of life insurance as an added umbrella covering the people you leave behind for the future you want them to have . Your umbrella helps extend protection over your risk exposures and everything you ’ ve worked hard to achieve . Think of everyone you ’ re leaving behind . Now think of all the things and plans that depend on your income . If you ’ re the primary earner , life insurance is the replacement for your annual salary .
HOW MUCH PROTECTION DO YOU NEED ?
The liability protection you currently have in place won ’ t matter much if your dependents can ’ t afford the home or car after you ’ re gone . Much like a home inventory , life insurance also deserves an inventory . Make a list of how much money it takes to maintain your dependents ’ expenses each month .
LIFE INSURANCE ASSUMPTIONS DON ’ T ALWAYS MATCH THE REALITY
Life insurance extends protection over the ones you leave behind and shields them from financial risk when you ’ re gone . But people underestimate their
LIFE INSURANCE ASSUMPTION I ’ ve got the right coverage for now . future needs , leaving them at risk for increased premiums down the road .
WE ’ RE HERE TO HELP
Don ’ t leave your loved ones ’ lifestyle to chance . Connect with us . We ’ re here to help you reach your goals ! +
LIFE INSURANCE REALITY
An illness could leave you with higher life insurance rates or no coverage at all , right when you need it most .
Rates are low . Insurance premiums increase by tiers , usually every five years . The older you get , the higher the premiums . And one diagnosis can change your rates , no matter what age you are .
I ’ ve always been healthy .
I ’ m young and have no dependents .
I ’ ve got enough coverage through my job .
I ’ m retiring soon , so I don ’ t need life insurance anymore .
You may be healthy now , but an unexpected diagnosis can change your insurability status overnight .
That ’ s the best time to buy and get as much coverage as you can afford . You can get some inexpensive plans that allow you to build equity for future loans , too .
Your job might offer an easy and inexpensive path to life insurance . But it may not provide enough coverage for your particular needs . Also , what if you leave your job ?
You might have grandkids or other dependents you want to help . There are tax advantages to life insurance as part of an estate plan .
A Michigan City native , Jillian studied Athletic Training at Manchester College before gaining experience in the healthcare industry for the past 10 years . Her experience in healthcare serves as an asset to her clients as she advises on individual life and health insurance plans as well as Medicare assistance . When she isn ’ t assisting her clients , Jill volunteers her time with Arise and Shine , a nonprofit dedicated to providing a path to self-sufficiency for those in La Porte County struggling to afford basic needs . In her free time , she enjoys playing softball , crafting , and spending time with her friends and family .
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