Life Insurance
Life Insurance can be difficult to discuss. At Preferred Guardian Insurance, we understand this. Our experienced, professional staff will help you make the best decisions for your family and yourself.
There are many factors to consider in determining the best amount of life insurance to protect your family. Some the most important factors include:
- Your present income and future earning potential
- Your Age, Age of your Spouse, and Age(s) of children
- Your Personal Debt or Business Debt
- Your Assets
- Your Budget
The amount of insurance one needs isn’t a constant, but a moving target. There are events in our lives that both increase and decrease our need for life insurance.
| Increased Need | Decreased Need |
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In most cases, life insurance protection can be accomplished through the purchase of term insurance. Term is the least expensive, has a set premium for a number of years (the greater the number of years, the more expensive the insurance) but does not build cash value. The following are some situations where permanent insurance or insurance with a savings component is suggested:
- An individual is very wealthy and their estate will need liquidity to pay estate taxes. This is particularly important for people with a lot of assets that aren’t easy to liquidate.
- A person needs an automatic method of saving money.
- A person seeking a way of protecting their assets from potential litigation.
Generally, the only information we need in order to quote life insurance is:
- Date of Birth
- Height/Weight
- Blood Pressure
- Cholesterol
- Did both your parents live past 60 or still living?
- No DUI or DWI on Driving Record’
