Chances Are You Need Life Insurance

Life InsuranceLife insurance can benefit anyone, regardless of age, marital status, and family status. Not only does it ensure your family and loved ones are financially safe in the event of a tragedy, it also provides major advantages for financial planning.

At Harding & Jacob Insurance, we have extensive experience in obtaining quality life insurance coverage for customers who thought they were “uninsurable” – from individuals with health issues, to non-smokers that enjoy an occasional cigarette or cigar. Don’t assume you won’t be approved for life insurance coverage without consulting one of our advisors first.

Below, we have outlined a few of the major advantages of having life insurance. Call us at 440.871.7261 to learn more about how life insurance can best serve your needs.

Life Insurance as a Planning Tool

Having adequate life insurance in place can be a useful planning tool in the following situations:

Replacing Income for Surviving Dependents

When a person has dependent children or relatives, having life insurance provides a replacement for lost income in the event of his or her untimely death. Income replacement is one of the first places to start when evaluating how much coverage you need.

Providing Inheritance for Heirs

Anyone who buys life insurance will create money to pass on to chosen survivors. Children can use it to pay for health, maintenance, education and any other future expenses.

Covering Final Expenses

Life insurance will pay for burial or cremation costs. It will also cover the costs of estate administration, probate expenses, and medical bills.

Paying for Federal Estate Taxes

Many individuals purchase life insurance so that it covers their estate taxes. This ensures that heirs won’t have to foot the bill by paying the tax out of pocket or selling inherited items to compensate.

Creating a Savings Source

Certain types of life insurance coverage, such as whole life and universal life, are types of “cash -value” life insurance. This type of life insurance accumulates value during the policyholder’s life, and allows the policyholder to withdraw contributed amounts when needed. An added benefit of this type of insurance is that interest and earnings are not taxable.

How Can We Help?

There are many more situations where having a good life insurance plan in place is beneficial. Our Cleveland, Ohio and Columbus, Ohio life insurance agents have the expertise and the experience to create a comprehensive life insurance plan for you and your family’s future. For an accurate life insurance quote, simply click on the Quotes Done Right button below.

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Want to learn more about your Life Insurance options?