Why is Life Insurance Important?
The death of a loved one is not only difficult to cope with emotionally, but it can be a financial struggle as well. All too often, the financial hardship that follows can make the burden of a lost loved one seem unbearable.
Most people get Life Insurance for 1 of 4 reasons.
- Help pay off a mortgage.
- Replace lost income.
- To pay off final expenses, cover children’s expenses, or debt.
- To leave a Financial Legacy for their loved ones.
Ultimately, our family depends upon your income, and will need help if something happens to you.
What is Mortgage Protection?
Perhaps the biggest reason to get life insurance is to protect a mortgage. In that case, we call the life insurance a Mortgage Protection plan. But what can Mortgage Protection do for you?
- Help pay off all or part of your mortgage when you die
- You choose the beneficiary
- Portable – follows YOU, not your mortgage
- Coverage and Payment Amounts stay the same
- Alternatively can provide Mortgage Payment Protection
- Can cover 6, 12, or 24 months or more of mortgage payments
- Provides time and could earn more equity in the home
- Always include Terminal Illness benefits
- Advances benefits before you die if you choose, if diagnosed with a Terminal Illness, to help pay medical bills.
- Often includes Critical & Chronic Illness benefits
- Can advance benefits before you die for bills and mortgage payments
- Can add an Accidental Death benefit that doubles the death benefit in the event of non-natural death.
- Some policies include Waiver of Monthly Premium for six months, if you become Disabled or Unemployed.
- Can add a Children’s Term Rider
- Life insurance for dependents, can be converted at maturity
Our best advice is to understand buying life insurance is complicated. Our agents can quickly learn about your situation and show you viable options to obtain coverage.
Why the Rhoads Insurance Agency?
Dan Rhoads is contracted with a variety of insurance companies. Some accept only very healthy individuals after testing blood and urine samples. Others will accept people with a few health issues.
Your agent will help you find the best plan for you, whatever your circumstances, because we want to help families.