June 28th is National Insurance Awareness Day. This prompts the question; are adequately covered? As we approach this holiday, it is a great time to assess your life insurance coverage and evaluate your risk. It’s never too late to strengthen your current coverage.
The idea of life insurance can feel daunting, but the meaning is simple: life insurance helps protect your family from financial hardship if you were to pass away unexpectedly. Life insurance can help your family provide for lost income, cover bills and debts left behind funeral expenses, and potentially help pay for living expenses for your family for a period of time. If you have a spouse or dependents, life insurance is a great way to help protect the people you love. Take the next step today on National Insurance Awareness Day.
If you answered yes to any of the above scenarios, life insurance is likely a great option for you and making sure you’re signed up for the correct amount of coverage is very important.
An IUL insurance policy provides a death benefit and a separate cash value that could increase over time. The performance will mimic an equity index. Although an external index or indexes may affect policy values, the policy does not directly participate in any stock or equity investments. Indexed Universal Life increases in value when the market performs and does not lose value when it underperforms. For this reason, an IUL policy may benefit the insured. Based on the possibility of a higher cash value accumulation than a universal life (UL) insurance policy.
Your financial professional can help you make sense of the complicated world of life insurance and get started. Once you know whether life insurance is a necessity for you and the type of life insurance for your situation, it’s important to make sure you have enough coverage. If you are wondering if you have enough life insurance to provide for your loved ones in case of an untimely death, reach out to your financial professional today.
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In addition, Safe Harbor Financial specializes in providing strategies and guidance for those who are seeking a better lifestyle in retirement. If you have retirement savings of five million dollars or $50,000, we can ensure it works as hard. As a result, we offer our experience and knowledge to help you design a custom strategy for financial independence. Contact us today to schedule an introductory meeting!