Life insurance

Life Insurance in Los Angeles

Who needs Life insurance?

One of the things many families and couples in long term relationships should consider is Life Insurance but many people put it off because it can appear to be very complicated. It isn’t. Setting an appointment with an experienced and helpful agent at Safecal Insurance is a small investment of time that can protect you, your partner, and your family against financial disaster in the future.

Let’s face it, when you are young you think that nothing can ever happen to you, but look at the statistics, thousands of people die unexpectedly and prematurely every day, often leaving their families unable to maintain their standard of living.

I know this as a painful fact, but consider this example of a father who “didn’t believe” in life insurance, and when he died of a heart attack, the burial expenses cleared out family’s bank account, leving his child unable to go to college and his wife having to get a job cleaning houses to be able to survive.
Nobody should allow that to happen to their family, but the good news is that the younger you are the cheaper life insurance can be.

Term or Whole Life Insurance?

Term insurance covers a person’s life for a term of years and usually comes in 10, 15, 20 and 25 year terms, anything longer than that and you probably should look at a whole, universal or permanent life policy.

If you are serious about protecting your family, take a few minutes to note down what your financial situation is right now. If you were not around tomorrow to pay the bills, what would your partner have to pay? The balance of the mortgage, estate taxes, college or tuition fees for your children, debts such as the balance on a car payment and unexpected expenses, and of course funeral costs, which these days can range from $5,000 upwards.

These amounts can be startling when added up, so imagine how your partner would feel if he or she had to try to survive after your demise?

If you have young family and your partner stays home to care for the children, you should also consider taking out a term policy. You would need to cover the costs of someone to care for your children and possibly an additional amount to help maintain and care for your home.

As we get older, life insurance needs change. Once a mortgage is paid in full and children graduate college and earn their own incomes, the need for large insurance policy can decrease. As a rough calculation, your policy should be approximately ten times your annual living expenses.

Are you or your partner in a business partnership? This is another important thing to consider when calculating your life insurance needs. The unexpected loss of a business partner can also be devastating and Safecal Insurance will be happy to provide information about business insurance.

An agent at Safecal Insurance is here to help at all stages of your life to ensure that you have the right coverage at each stage of your family’s lives. The agent will also ensure that you are not over-insured and wasting money on any unnecessary coverage.

Contact Safecal Insurance today for a quote, so you and your family can be protected for life.