Look After Your Loved Ones With Life Insurance

A life insurance policy is a really great way to ease burdens and continue giving to your loved ones even after death. Not only that, but at Elite Insurance Solutions, we often find that taking out a life insurance policy is just the first step towards other, more comprehensive insurance and investment decisions that can enrich your family’s life.

Why Do I Need Life Insurance?

If you think life insurance sounds like an unnecessary expense, you’re certainly not the first person to think so. But preparing for the worst is one of the smartest and most loving things you can do for your family. Here are some reasons why you may need life insurance:

  • Income replacement: Life insurance can help your spouse maintain the same standard of living after you’re gone.
  • Final expenses: Life insurance can help cover funeral expenses, burial costs, and medical bills.
  • Short term debts and needs: Life insurance can help your family cover your outstanding debts and bills.
  • Child-raising expenses: Life insurance can provide additional protection during child-raising years and while funding college.
  • Mortgage protection: Life insurance can help your family pay off your mortgage.

A word of advice about life insurance: Don’t put it off. You’ll have an easier time getting approved and securing a low cost the younger you are. Please also note that as your personal situations change so will your life insurance needs. When you get married, have a child, or get a job promotion, you’ll want to consider adjusting your life insurance.

5 Types Of Life Insurance

1. Term Life Insurance: Simple and affordable life insurance for a specified time period—usually 10, 20, or 30 years. Payments are fixed for a “term” and paid on a monthly or annual basis.

2. Whole Life Insurance: Permanent insurance policy with fixed premiums, a guaranteed death benefit, and cash value growth.

3. Universal Life Insurance: Permanent insurance with fixed premiums, flexibility to change payments, premiums, and death benefit options.

4. Variable Universal Life Insurance: Permanent insurance with flexibility to change payments, premiums, and death benefit options. This type of insurance presents policy holders with the opportunity to make investments that may yield a higher cash value.

5. Survivorship Life Insurance: Permanent insurance for two people that provides a payout to beneficiaries after the second person passes away.

Elite Insurance Solutions can help you determine how much life insurance you need to carry—and which type is best for you—so that your family remains well taken care of.

For more information on life insurance, contact one of our expert agents. Click here to find the Tennessee location and agent nearest you.

 

At Elite, we can help you find the health insurance plan that is the best fit for you and your budget. Talk to us about this important personal coverage.

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Testimonials

Since 2010 Elite Insurance Solutions has handled our property and casualty insurance as well as our worker’s compensation insurance. Unfortunately, we have had a couple of major claims since they have handled our account. One of these claims was a worker’s compensation claim and the other was a major theft claim.

Not only has Elite handled these claims professionally and efficiently, but they have communicated with us through the process. They took the time to learn the history of our company to know that these were unusual claims. Consequently, they have worked hard to keep our rates to very modest increases.

I highly recommend Randy Hulett and Elite Insurance Solutions to anyone and will continue to do so.

~ Matthew T. Coyle