Peace of Mind for You and Your Loved Ones
Life Insurance is often considered to be the cornerstone of a sound financial plan. A life insurance policy can provide sound of mind and security for your loved ones. No one wants to think about dying, but it is a fact of life. You’re beneficiaries will be able to use your life insurance policy to help pay for anything from expensive funeral costs and estate taxes to making up for lost income or funding children’s education. It can even be used to continue payments or pay off a mortgage to ensure the family home isn’t lost.
There are many different options when choosing a life insurance policy including Term Life, Whole Life, Universal Life and Variable Life. So how do you know what is the right plan for you and your family? At Omega Insurance Group, we understand that choosing a life insurance plan is a big decision with many important factors to consider. Our knowledgeable team of personal life insurance professionals are committed to walking you through the process and providing you with a life insurance solution to give you and your family the peace of mind you deserve.
Life insurance gives you the peace of mind you need to make sure that your family and loved ones are financially protected at a time when it’s needed the most. In the case of your death, your named beneficiaries receive money to put towards:
Life insurance is not a one-size-fits-all, there are many factors to consider including age, income, other savings and retirement accounts, debts etc. A general rule of thumb is to have enough life insurance to cover at least 10 times your annual income, in addition to any outstanding loan balances including mortgages, credit cards, auto loans etc. Life insurance can include a combination of term and permanent insurance to provide a higher death benefit during your younger years and less as you grow older, while at the same time a permanent policy can provide a lower death benefit during your younger years and build a higher cash value as you grow older and are ready for retirement. Because there are many options and no two situations are the same, it’s important to consult with a knowledgeable insurance agent that will take the time to understand your situation and customize a plan to fit you and your family’s goals.
Life insurance is not a one and done, your life is constantly changing from a new home purchase to a growing family, a career change or even planning for retirement. This means that your financial needs are changing as well. It’s suggested that you review your life insurance coverage at least once every 5 years, particularly when you experience a major life change or transition. This will ensure that your life insurance policy is up to date and can cover any additional expenses you may have incurred.