Life Insurance

If you have a spouse, or children, you owe it to them to plan ahead for the future. A life insurance policy is important for protecting those that you love the most when you are no longer able to take care of them. When you have a life insurance policy a cash benefit (generally tax-free) will be paid out by your life insurance company. You can determine how you want your cash payment to be used, whether it is for paying off a mortgage, or paying for college tuition for your children, you are in control of your policy.

Who Needs Life Insurance?

Anyone with assets or a family to protect should have a Colorado life insurance policy. This includes parents who want to be sure that their children are taken care of after they are gone, homeowners who may purchase life insurance to help their families pay off their mortgage, and parents who don’t want their debts passed on to their children. Business owners also may purchase life insurance to protect their business in the event of an untimely death. Losing a loved one is hard enough without the added financial troubles it may bring. Life insurance provides the peace of mind in knowing financial issues will be taken care of.

There Are Two Types Of Life Insurance

Term Life Insurance is coverage that only lasts for a pre-set amount of time. This comes with a locked in rate that will not go up during the life of your policy. If you should pass away during the time when your policy is in effect then your family will be covered. If you should outlive your policy coverage you may have the option to continue with the coverage by paying a higher premium. Usually a term life insurance policy can be converted into a permanent policy without having to undergo an additional medical exam.

Permanent Life Insurance is designed to last for the duration of your life and part of the money that you pay into it is set aside in a special account. There are many different kinds of permanent life insurance policies. Your Colorado insurance agent can help you determine which plan is the best one to meet your needs.

How Much Insurance Do I Need?

A good rule of thumb is to have no less than ten times your annual salary in life insurance. You also need to factor in any current debts, including your mortgage, into the equation when deciding how much coverage is enough.

Preparing for the financial future of your family does not have to be an overwhelming chore. Call us today to talk to an experienced and professional member of our Denver insurance agency who will answer any questions you may have about life insurance policies.

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Phone Address303.477.6500

Address Address2650 18th Street
Denver, CO 80211

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