Life Insurance

Getting Started with Life Insurance

Life insurance can be one of the most valuable tools available for almost every stage of life, whether it’s replacing income, transferring wealth or supporting a spouse after a devastating loss, it can make a significant difference.

So why is it  that no one likes to talk about it?

When the words life insurance are uttered most people automatically picture a door to door salesman selling insurance products just trying to get a commission. Another reason we don’t like to talk about  life insurance is that none of us want to think about leaving our loved ones behind.

While our hope is that you never need to use life insurance, much like home, auto, or health insurance, it makes a world of difference if you do need it.

For  young families it can mean the difference between staying in the family home, being able to fund an education, or having to make serious life choices while dealing with the grief of losing a loved one.

These are just some examples for one stage of life, where life insurance is such a valuable resource.

But there are many other situations life insurance can be there to support you. Life insurance can be used to transfer wealth, protect a business, create a tax-free income and even establish a legacy.

Lifestyle Financial is here to help you navigate your insurance needs.

There are basically two types of insurance; Term and Permanent

Let’s first discuss what the difference is between the two and which might be right for you.

Term Insurance is Often the Most Affordable

Once you are approved by the insurance company, you can be insured for a specific number of years at a specific price for a specific amount of insurance. This is often utilized for a short-term insurance needs. An example of this would be paying off a mortgage, or income replacement for your children and spouse. While term is a valuable tool, as you get older term insurance does get much more costly, which is why for long term needs it is advisable to utilize permanent insurance.

Permanent Insurance is Much Different Than Term

Most notably it is significantly more expensive in the short term. However, whereas term is focused on a shorter period of time, Permanent insurance is focused on stretching payments over your lifetime.Do you have questions about insurance? Not sure which type best suits your needs? Give us a call and we’d be happy to review your insurance needs with you.

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Lifestyle Financial

Office: (800) 834-2250
Fax: 949-241-8569

200 Sandpointe Avenue
Suite 160
Santa Ana, CA 92707
Series 7, 66

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