Life and Health Insurance**
Who Needs It?
Some people think of life insurance as something they’ll need to start thinking about as they approach retirement.
The truth is—if someone you love will suffer financially should you die, you need life insurance as part of your overall wealth preservation strategy. The cash provided by your policy at death replaces your income and can help your family meet important financial needs such as:
- The cost of a funeral
- Paying off a mortgage
- Funding a child’s education
- Daily living expenses
It's never too early to begin thinking about life insurance—it may be the most important thing you ever buy.
More Than a Death Benefit
While many people think of life insurance primarily as a tool to protect their loved ones in the event of death, it can be used for much more.
For individuals, adequate insurance can:
- Supplement a retirement income
- Enhance or equalize an estate
- Act as a tax-advantaged investment solution
For business owners, it can:
- Provide a tax shelter for savings
- Become a source of retirement income
- Help alleviate debt such as a line of credit
Be a means to fund a buy-sell agreement between partners you’ve accumulated
Getting it Right
Our helpful, caring Insurance experts will work closely with you to determine the best life insurance solution for your situation. One of our Insurance experts can work with you to determine:
- Costs to cover immediate, ongoing and future expenses
- How much annual income your loved ones will need
- Policies you may already have and savings you’ve accumulated
Working with you to understand this information forms the basis of a solid wealth preservation strategy. Based on this information, our experts will help you determine the right type of insurance, permanent or term, and how much life insurance you would need now—and in the future.
Permanent Life Insurance
Covers you for an entire lifetime and comes with the security of fixed premiums. Premiums can build equity, allowing you to take a loan against it or use it as collateral. Or, if needed, some policies allow you to take the cash value.
Term Life Insurance
Provides protection for a set duration of time. This option appeals to individuals who need protection against temporary obligations such as a mortgage or child’s education.
Our Team of Experts
Our Insurance experts can assist you with all your life insurance needs. However, if you’re dealing with complex issues, they may collaborate with other Coastal Community experts to ensure you have a fully integrated wealth preservation strategy.
Our other areas of expertise include:
- Financial & estate planning
- Actuarial services
- High net worth services
- Trust services
- Small business services
Talk to an Expert Today
Whether you’re looking for an affordable, flexible option or seeking to incorporate life insurance into a larger wealth management strategy, our Insurance experts are ready to help you. Life insurance may be the most important thing you ever buy.
** Life and Health Insurance services offered through Coastal Community Financial Management Inc.