Category Archives: Personal Finance

Show Them You Care with Life Insurance for Valentine’s Day

While something like life insurance might not seem that romantic at first, purchasing a policy is all about those special people in your life. When you buy life insurance, you’re telling your spouse, children and loved ones that you care about their future. If something were to happen to you in the years ahead, you’ll know that your loved ones will be well taken care of in your absence. Celebrate the most romantic holiday of all and insure your love today!

Love is the Driving Force Behind Everything We Do

Did you know that love is the number-one reason why people purchase life insurance in the first place? Well, that may not be a scientific fact, but providing for that special someone after you’re gone is one of the best ways to show them that you care. As dull as life insurance may seem, it’s actually the only way to make sure that your loved ones will have enough money to survive after you’re gone. You may not want to think about those worst-case scenarios this Valentine’s Day, but something unexpected could derail your plans for the future. Why not err on the side of caution and insure your love with life insurance.

Ensuring Their Future

Families are all about building a future together. You might like to think that you’ll be around to provide for your family as time goes on, but that isn’t always the case. Illness, accidents, and random acts of fate could strike at any moment, bringing your family’s plans for the future to a screeching halt. By purchasing a life insurance policy and by paying a small monthly premium, you’re taking precautions that will prevent your loved ones from suffering financially if you were no longer around to provide for them. Whether you want to leave something for your spouse/partner or your children, your life insurance policy will always be there when they need it. Your family can use those funds to pay for college, to secure their retirement, or to settle the mortgage on your house.

Giving a practical gift this Valentine’s Day may just be the most romantic statement you can make. Get started by using our free life insurance quote engine to browse dozens of personalized quotes from top-rated insurance companies.

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Myths about Life Insurance that Could Hurt Your Family

Many people who are just starting out with a family know that it can be tough to make ends meet. From buying a home to raising children, there are endless responsibilities that come into play. One of the most important, and often overlooked responsibilities, is making sure your family will be protected financially in the future, should something happen to you.

Consider for a moment what would happen to your family – or any young family – if you or the main income provider were to suddenly die. Would your family lose the house? Would your children have to leave their friends and move to a different school? Would the standard of living they are accustomed to remain the same if you were gone? The best way to make sure that your family is financially secure in the future is to ensure you have enough life insurance coverage now. Unfortunately, there are some myths that young families mistakenly heed regarding life insurance, which sometimes result in financial devastation for loved ones left behind:

  1. “Life Insurance Policies are Too Expensive.” Actually, there are many different options when it comes to purchasing a life insurance policy, many of which are quite affordable. One of the best and least expensive options, especially for young families who may have limited budgets, is to purchase a term life insurance policy. Term life insurance offers the most coverage for the lowest premiums; it is mainly for this reason that so many young families find a plan that fits their budgets, their needs, and their lifestyles.
  2. “Term life insurance is the only type of coverage I’ll need.” Although it’s a great option at first for young families who have limited budgets, that doesn’t mean it should be the only type of insurance they should have. Permanent life insurance offers valuable unique features like the ability to accumulate cash values on a tax-deferred basis and lifetime protection. It’s similar to assets in many retirement savings plans, where cash can be borrowed against the policy (or accessed altogether) for important needs.
  3. “I Don’t Need Life Insurance Since I’m not the Primary Income Earner.” Whether you bring home a large paycheck, or yours is the only paycheck, or even if you don’t earn a paycheck, you might very well need life insurance coverage. If you are a stay at home parent, you perform valuable services that would be costly to replace for your spouse or partner. Childcare costs alone can easily run in the hundreds or thousands of dollars every month; a good life insurance policy will provide the funds to cover such expenses.

In order to fully protect the financial well-being of your family in the event of your death, you need a life insurance policy – but not just any policy. It’s vital that you have enough coverage for your family, and that you have the right type of life insurance. For more information on life insurance for young families, and for quick, accurate online quotes from leading providers, use Intramark’s online quote tool.

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How to Talk About Life Insurance With Your Spouse

Your spouse doesn’t even want to think about you passing away, let alone have to sit down and actually discuss it. It’s never easy to talk about death, especially the death of someone you love. That’s why discussing life insurance with your spouse can be so difficult. But since the two of you share a life together, with all the financial responsibilities that it entails, it’s a conversation that has to come up at some point. Here are a few tips on broaching this awkward but necessary subject:

Consider your timing

Like bringing up any touchy subject, timing makes all the difference. We found that one of the best times to bring up life insurance is right after the birth of a child. Another good time to bring up life insurance is during or shortly after a separate but similar financial planning conversation. For instance, if you have just finished discussing the estate plans of a loved one, you can easily transition into the life insurance conversation without it seeming too shocking or out of place.

Reframe the conversation

One of the reasons that it’s a good idea to discuss life insurance after welcoming a new child into the world is that it allows you to shift the focus of the conversation from death to future planning. Instead of an out-of-the-blue conversation about your possible demise, you can instead speak about life insurance in terms of planning for the baby’s future financial security. But this method also works regardless of whether or not you have had or are expecting a child. If you simply bring it up in terms of planning for you and your spouse’s future, or elder members of your family that might require expensive care, you can speak about life insurance as a planning tool rather than a death benefit.

Talk about the numbers

You can also take some of the visceral sting out of the life insurance conversation if you talk about it purely in terms of facts and figures. Before you bring it up, make sure you have concrete details about how much money you will need to have in order to pay off the mortgage, save for college, etc. And then get some rate quotes together and present the life insurance topic in terms of a purely financial decision. This might make the conversation a little duller, but dull is better than downright depressing.

Set the tone

It’s sometimes best to preface the conversation with a little warning. Something along the lines of “I want to talk about something that might be uncomfortable for both of us, but I think it’s important.” This might make him or her a little uneasy, but it’s better than just blurting out something about death out of nowhere. It’s also important to be in a place where you can sit down face to face. So try to avoid springing it on them in the middle of a dinner out or while running errands. If you set the tone up front, it will allow your spouse to adjust a little bit and prepare for the difficult conversation beforehand.

Whatever You Do, Don’t Give Up

There are a lot of misconceptions out there about life insurance (i.e. it’s only for old people, it’s too expensive etc.) and it can take some time to break through these misconceptions. So if your spouse puts up the defenses, or is having trouble making a decision, be respectful, but be persistent. Prices tend to increase the longer you wait, so don’t give up right away if he or she says no at first. If need be, get a professional involved. Most agents and advisors will be happy to sit down with you and your spouse and discuss your options.

If you and your spouse are ready to purchase life insurance or increase life insurance, get started with a free quote today.


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