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No one can replace a spouse, a parent, another loved one, or a key business associate who has passed away, but one aspect of a person’s passing can be addressed in advance. The potentially devastating financial impact of an untimely death can be avoided with careful life insurance planning. To those left behind, life insurance provides the funding to meet obligations or carry out plans that might otherwise be interrupted or derailed.
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In a family, life insurance creates an instant estate, offers liquidity, provides for debt repayment, assures children of a college education, and allows surviving family members to maintain the lifestyle they lived prior to the untimely passing. The untimely death of a family member is heartbreaking, but inadequate funds can make for a tragedy. The instant estate created by life insurance eases the financial aspects of the loss. Calculate your life insurance needs with our private secure calculator below:
When key people die unexpectedly and without proper planning, a business can suffer and may fail soon after. Life insurance makes survival of the business possible and can fund the buyout of a deceased business partner’s ownership interest in a business when that partner’s heirs want and need cash to live on, not shares of stock. In business planning, life insurance can also secure loans when a lender is concerned about the impact of an ill-timed death of a key person in the company.
Estate taxes, a reality to those with larger estates, require liquidity to pay estate taxes upon death. If there is not enough liquidity in the estate, the survivors of the deceased have to liquidate assets at the least opportune time to pay those taxes. Life insurance provides that liquidity.
Social Security Benefits
Social Security can be a significant source of funds for surviving family members. To determine the level of benefits available to you and your family, the Social Security Administration offers a calculator.
We recommend periodic financial checkups to be sure your family or business financial needs will be met in the event of an untimely loss of a member of your family or your business. Whether your needs are straightforward or complex, Hunter Insurance is prepared to assist you in achieving the financial security you seek. As independent agents, we have a number of solid, reputable insurance companies available to address your particular needs.
For More Information
For more information, please contact us at (330) 725-4543 or fill out our contact us form.