Donna Kohlhase
The objective of life insurance is not so much what it can do for you, but what it can do for the people you leave behind.
Life insurance ensures your life goals concerning family and loved ones will be met in the event you die before achieving them.
With the assistance of a life insurance expert, educate yourself, as much as possible. Discuss all options available before committing to a policy. It is equally important to give some thought to your goals.
Your final expenses are at the top of the list. More than likely, there will be medical bills and then whatever funeral costs will be incurred. At the very least, your life insurance policy should leave your beneficiaries no worse off than they are while you are alive and providing for them. This sounds obvious and logical, but it is not always that simple to achieve.
Your life insurance policy also should cover all outstanding balances you may have at the time of your death.
What is your current standard of living? You need to establish what it costs to support your family in the way they have become accustomed. You will have an accurate idea what it will take for them to continue living within the same lifestyle.
You must be able to project your costs of living into the future before estimating the appropriate amount for your policy. You also should consider your best estimate of inflationary costs, and gear that figure into your standard of living estimate.
You want your survivors to have options.
What about the goals of your children and other loved ones? If your children aspire to higher education, you have a chance to ensure the cost of that education will be completely covered by having the funds available. Even more immediate issues need to be covered, such as day care costs, books and clothes for school.
The needs of your family will continue to grow, and always should be met, even if you are no longer here. Through a life insurance expert, take appropriate actions to ensure these needs are met.
The issues associated with considering a life insurance policy are many.
- Make sure your own expenses are not transferred to your relatives.
- Make the right choice in order that your family may continue to prosper without you.
- Let your family know how much they mean to you by providing what you can in the case of your death.
For more information, call Donna Kohlhase at (480) 396-2140. The insurance agency is located at 6836 E. Brown Road, Suite 101.