In working with Seniors we find they frequently have two different needs when it comes to life insurance: Final Expense and permanent policies.
Final Expense Life Insurance
Final Expense Insurance is one of the greatest gifts you can provide for your loved ones. Providing your family with the money needed to cover your final expenses is something that simply makes sense. Too many Americans find themselves without adequate financial resources. Sadly, most of them aren't even aware that a life insurance policy can cover these expenses for a small cost.
This type of policy is usually a small whole life or universal life that may have a death benefit between $10,000 and $25,000.
Contact DelVal Senior Advisors for a personalized quote for Final Expense Life Insurance.
Permanent Life Insurance
A permanent life insurance policy is just that. As long as the premiums are paid the policy cannot be canceled and the death benefit will be there when needed. Universal and whole life are examples of permanent insurance.
Why do I need this kind of policy?
- Income Replacement – when you pass away will your spouse have enough income? Life Insurance is a way to provide for that lost income.
- Estate Preservation – the proceeds of a life insurance policy can be used to provide liquidity to cover taxes, legal expenses, probate fees, etc., to protect the estate.
- Specific Gifts – perhaps you have a favorite niece you would like to provide for after your death, while leaving your estate intact for your spouse or children
- Charitable Gift - maybe you have a favorite charity you would like to help endow without depleting your other assets.
Contact DelVal Senior Advisors to discuss your life insurance needs.