Life Insurance
Get Life Insurance That Fits Your Life
As an independent broker, IMOR Financial, is aligned with your best interest. We work on your behalf and represent multiple insurance companies so that we can help you get just the coverage you need and nothing you don't.
Did you know that life insurance is a key part of your financial plan? At IMOR, we look at where you are now, where you want to be, and recommend the right life insurance for your life.
Why is it so Important to Have Life Insurance?
Even amid the business of everyday life, many of us have stopped to ask ourselves at least once “Do I need life insurance?” And the smart answer is a resounding, yes!
Getting a life insurance policy is vital for ensuring your family's security in the future and your peace of mind today. You want to make sure your loved ones will be protected and have financial security if the unexpected should happen to you. Everything from medical bills and funeral costs to mortgage payments and educational expenses can be a drain on all you've worked and saved for. That's why, at IMOR, we believe it's essential to have financial protection in place for your family in the event of your death.
Some people may think of life insurance as just another expense. The question you need to consider is would someone in your life suffer an economic hardship if you were to die? If your answer is yes, then life insurance is important for you to have.
Married With Children
If you're married and have young children at home who depend on your income, you have a clear need for life insurance. If something were to happen, the loss of your income could cause an immediate financial hardship. Not only would this make it harder for your family to make ends meet, but for them to realize future goals such as a college education. Even if one spouse is a stay at home parent and doesn't bring in a formal paycheck, his or her death means that the surviving spouse will have additional expenses such as child care, cooking, and housekeeping - all necessary services for running a household.
Married Without Children Or Singles
Why is life insurance important if you don't have children or a spouse? Just because you don't have children or are married, doesn't necessarily mean that you don't need life insurance. If your spouse or significant other depends on your income to keep the bills paid and to run the household together as a joint venture, then having the financial safety net of a life insurance policy is vital. Whether you're married or living the single life, who is going to pay the costs associated with your final expenses? Things such as funeral costs and jointly held debt (such as a cosigner on a loan) are just a few of the costs that you'll need to consider in the event you were to unexpectedly die. Unless you already have sufficient financial resources to cover these expenses, your survivors will most likely need life insurance to help pay for it all.
Having Enough Life Insurance Is Just As Important
The loss of a loved one is an emotional and traumatic experience for any family. But not having enough money to meet immediate and ongoing living expenses, can make a very difficult situation even worse. Not only are the people you love grieving your loss, but they'll now have added financial stresses to cope with. Depending on their current financial resources and ability to get back on their feet both emotionally and financially, your loved ones could be forced to move to a less expensive home or community, forego education and career plans, and cut back on their quality of life. They may be even forced to take out loans to pay for your funeral and burial costs, as well as any outstanding medical or tax bills.
If you're wondering why life insurance is important, stop to consider the potentially devastating consequences of not having coverage to financially protect the people that you love.
Top 10 Reasons Why You Should
Consider Life Insurance
- YOU NEVER KNOW…
- Funerals are expensive
- Protect those you love
- Death shouldn’t mean debt
- Anything can happen
- Take care of business
- Supplement your retirement
- It makes financial sense
- Give to charity
- Peace of mind, plain and simple
What Kind Of Life Insurance Do I Need?
Term Life Insurance
The most basic type of life insurance, and typically the least expensive is Term Life Insurance, which is an attractive option for many young couples and individuals. Term Life covers you for a specific period of time (such as 15, 20 or 30 years) and pays a death benefit only if you die during the term.
Universal Life Insurance
Flexible and more long-term than term insurance, Universal Life lets you pay premiums at any time, in virtually any amount, subject to certain minimums and maximums. You can also pay premiums in advance and even skip payments in certain circumstances. Over time, you can increase or reduce the death benefit as your needs change.
Whole Life Insurance
Designed to cover you through your entire lifetime, Whole Life builds cash value on a tax-deferred basis. The cash value can be accessed by the policy owner for emergencies, extra income, or college expenses, with any amount withdrawn and not repaid deducted from the policy's death benefit.
ROP Life Insurance
“Return of Premium” Term Life Insurance costs more than a traditional Term Life policy, but offers you the ability to get your premiums paid back to you if you outlive your policy’s term.
What Is The First Step?
At IMOR we don’t charge a fee for our ADVICE, in fact, we welcome the opportunity to sit down with a prospective new client, at no charge, and listen to your financial goals, dreams, and concerns. From there, we can better assess if our consultative services can assist you in accomplishing your financial aspirations or addressing your financial concerns.
