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Roussel Insurance & Financial Services

146 N. San Fernando Blvd Suite 203

Burbank, CA 91502


Phone: 818-848-3331
Fax: 818-848-2982  

info@rousselinsurance.com

 

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Life Insurance Helps Families


Life Insurance Has Value for Families

Are you one of those people who think you don't need life insurance? Please think again. Life insurance provides real security for those you care about. Life insurance benefits can provide financial security and resources for your family or loved ones after you are gone. Let's look at a few of the reasons to consider life insurance:
  • Payment on Debt- If you have any outstanding debt (mortgage, credit cards, etc.), at the time of your death it does not go away. Your estate will still be responsible to settle all accounts. Life insurance can provide the financial resources to cover debt.
  • Continuation of Income- Life insurance can provide the funds to replace your income upon your passing. Family income will certainly diminish with the loss of an income earner, which means your family will experience a lower standard of living. The death benefits of a life insurance policy can prevent this from happening, or at least keep the impact to a minimum, by replacing income lost with the demise of the breadwinner.
  • Unpaid Medical Expenses- It is highly likely that you will incur medical expenses prior to your death, some of which may not be covered by health insurance. Adequate life insurance proceeds ensure that these final expenses are covered.
  • Funeral Expenses- Most people don't plan for, or fund, funeral expenses.  Again life insurance is there to help.
Life Insurance Costs Are Down

The good news is that life insurance rates are low and there are many different kinds of products to select from. One question we often get is, "How much life insurance do I need?"  The answer to that depends on your individual situation, but the general guideline is, a life insurance limit of at least ten times your annual gross income is where to start. For example, if you earn $50,000 per year, your family would need to replace somewhere close to that amount. A $1,000,000 life policy could return $50,000 annually on an interest rate of 5%. 


Disclaimer

This information is intended for the client, individual or entity to which it is addressed. These articles contain concepts and opinions, and are not intended to represent the consensus of the insurance or risk community, nor to provide professional legal or tax advice.  Please seek professional legal or tax counsel before making any decisions.  The information provided does not change or modify any insurance policy, only the actual terms of the in-force policies will govern claim settlements