The Life Insurance Indianapolis Seeks

There are very few sure things in life. While we make our plans and do our best to carry them out, often in the end we simply don’t know what the future will bring. To prepare for the uncertainties of life, there is life insurance. Life insurance can help you and your loved ones be prepared in the event of an unexpected death. In order to help you make sense of what can be a complicated topic, we will help answer some of the most common questions about life insurance Indianapolis residents are asking.

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Who Needs Life Insurance?

It depends. We work with individuals and families to help you consider all of your circumstances. The key purpose of life insurance is to provide financial security in the event of an untimely death. Younger families understand the need to have protection in place, especially when children are young. On the other hand, parents of adult children who require ongoing care can use life insurance to assist with those costs. Others elect to use life insurance for charitable purposes in order to leave a lasting legacy.

Do I Need Term or Whole Life?

Again, it depends. Term life insurance offers temporary protection for a specific period of time, usually between 5 and 30 years. Term life is an inexpensive way to protect your financial value to your family. Whole life insurance protects for the ‘whole’ of your life, meaning there will be life insurance in place when you die. Whole life also accumulates cash value, which can be used during your lifetime for expenses like college tuition.

How Much Life Insurance Is Enough?

Again, this question has no right answer. We strive to get to know our clients and understand their individual needs, goals, and objectives. For some, a policy that would pay final expenses, such as medical bills and funeral costs would be sufficient; however, others want to have enough life insurance to replace future lost income and provide for their family. No matter your need, we will be here to assist you as your circumstances change over time.

What Is Mortgage Life Insurance?

Buying a home is typically the most expensive purchase you will make. So, it is natural that you would want to ensure your family can remain in your home even if you are no longer here.

Mortgage life insurance pays your mortgage in the event of your unexpected death. Our experience has taught us that most people benefit from having life insurance that will not only provide for ongoing living expenses but will also satisfy an existing mortgage.

Choosing the right life insurance option is a personal decision. No matter which type you choose, protecting your family’s financial security with life insurance is something you should consider, and we are here to help you in that decision-making process.