Personal Life Insurance

Personal Life Insurance

Preparing for your family’s welfare in the event that you are no longer able to provide for them is a task that should not be put off. Regardless of your current station in life, there are always others who depend upon you. If you are the parent of young children, the responsibility to leave them well cared for is an especially important one. Life insurance policies are one of the least expensive and easiest means of providing that kind of financial security for your loved ones.

There are also many different types of life insurance available; so choosing a policy that fits your life situation, provides a premium that fits your budget and coverage that fits your needs is not a difficult task for the Life Insurance Experts at Capstone.

Personal Life Insurance

Why Invest in a Personal Life Insurance Policy?

If you earn income for your family, the loss of that income could greatly endanger the financial security of your family. How would the mortgage or rent be paid? Would they have to move to more economical housing? Would their lifestyle in general need to change? Even if you do not contribute monetarily to the household income, the loss of your share in the household duties and particularly the childcare provided by a stay-at-home spouse, can be just as devastating to the finances of a household.

A Personal Life Insurance Policy is there to enable your significant other and/or children to maintain the same lifestyle that they enjoyed while you were there to provide for them. It cannot replace the loss, but it can prevent the loss from devastating them financially, as well as emotionally. In addition, many life insurance products can be structured as retirement investment vehicles as well.

What If I Already Have Life Insurance Through Work?

Some employers provide personal life insurance policies as part of their employee benefit package at no or little cost to the employee. This is a great benefit, if you have it. However, it is not a benefit that you can take with you should you leave that position; also, your employer can choose to discontinue that benefit at any time. In addition to the lack of permanence in an employer provided policy, the employer provided policy may not be sufficient to cover the needs of your family. Our Personal Life Insurance Specialists can help you determine exactly how much coverage you need to properly provide for your family.