Insurance Planning

Over the course of your lifetime you will experience many personal and financial changes. As these changes occur, it is important that you are prepared to meet them with adequate resources and planning. Life insurance can play a vital role in that plan.

It is widely known that the main benefit of life insurance is to protect your family from financial hardship in the event of an untimely death. The proceeds from a life insurance policy can provide for loss of income, debt repayments, and any other special business needs that could result from this sudden event.

What you may not know is that life insurance can also play an important role in estate planning and retirement planning by providing tax free sources of income. Coverage can be designed for short durations or for a lifetime as well as for any budget. Policy designs today are both flexible and changeable and, in many cases, may be more competitively priced than older policies.

Term Life Insurance is an inexpensive option that provides coverage for a specific period of time. These policies are usually issued in 5, 10, 15, 20, and 30 year periods but build no cash value. Coverage stops when premium payments stop or at the end of the agreed term.

Permanent insurance has many different forms which can be customized and designed to fit each applicant. The most common forms of permanent insurance are Whole Life, Universal Life and Variable Universal Life. With these types of insurance, most policy premiums stay the same and can provide protection throughout your lifetime while building cash value that you can use during your lifetime and in retirement.

Life insurance is an important part of any financial plan and should be reviewed on a regular basis. As your needs change, and as your family changes, Yaegers Financial Services will take the time to help you ensure your family stays protected.

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