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Serving residents across North Texas, including
but not limited to: Allen, Carrollton, Dallas, Flower Mound, Fort Worth, Frisco, Lewisville, Little Elm, McKinney, Richardson & Plano.

Life Insurance

Wondering whether or not you need life insurance? Here's an easy way to tell:
Would someone suffer financially if you suddenly died?
If the answer is yes, then chances are you need life insurance.

Life insurance provides cash to your family after your death. This cash (known as the death benefit) replaces your income and can help your family fulfill a number of financial responsibilities, like funeral costs, lawyers' fees, daily living expenses and college funding. And there is no federal income tax on life insurance benefits. Unlike life insurance through your employer, a policy that you own and control keeps you insured even after you change employers.

Most Americans need life insurance. If you're still unsure of whether or not you should buy a life insurance policy, here are some examples of specific life stages or events that might trigger the need for life insurance:

You Get Married
When you're married, you share everything with your significant other, including financial obligations. Many people mistakenly believe that they don't need to think about life insurance until they have children. Not true. What if one of you was to die tomorrow? Even with the surviving spouse's income, would that person be able to pay off debts like credit-card balances or car loans, let alone cover the monthly mortgage/rent and utility bills?

If you're planning to have children, you'll want to buy life insurance right away. And don't wait until the mother is expecting -- some insurance companies won't issue a life insurance policy to a woman during pregnancy due to health complications that sometimes arise. Buying insurance before a baby is on the way avoids this potential problem.

You're Married with Kids
Most families depend on two incomes to make ends meet. If you died suddenly, could your family maintain their standard of living on your spouse's income alone? Probably not. Life insurance makes sure that your plans for the family's future don't die with you.

You're a Single Parent
As a single parent, you're the caregiver, breadwinner, cook, chauffeur and so much more. Yet nearly four in ten single parents have no life insurance whatsoever, and many with coverage say they need more than they have. With so much responsibility resting on your shoulders, you need to make doubly sure that you have enough life insurance to safeguard your children's future financially.

You're a Stay-At-Home Parent
Just because you don't earn a salary doesn't mean you don't make a financial contribution to your family. Childcare, transportation, cleaning, cooking and other household activities are all important tasks, the replacement value of which is often severely underestimated. Surveys have estimated the value of these services at over $40,000 per year. Could your spouse afford to pay someone for these services? With life insurance, your family can afford to make the choice that best preserves their quality of life.

If you'd like to speak with us regarding your specific situation, we are always happy to assist you. Simply call us today for a FREE, no obligation insurance consultation:

Roger Welch Agency, LLC
972-380-6677
Multiple companies, one agent.

 

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