Life Insuring The Times of Your Life

LIFE INSURANCE FOR A LIFETIME OF PERSONAL CHANGING NEEDS

Here are some life stages and events that trigger the need to discuss life insurance with me…

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MARRIED OR GETTING MARRIED

Many families depend on two incomes to make ends meet and create your lifestyle together.  If you died suddenly, would your spouse have enough money to cover daily living expenses, rent or mortgage payments, outstanding credit cards debts or loans, and funeral expenses?   THINK INCOME REPLACEMENT!

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PARENT OR ABOUT TO BECOME ONE

Raising a child is one of the most beautiful, rewarding,  memorable and expensive events a couple or
single parent creates in life.  If you died tomorrow, your spouse or if a single parent (guardian) would
need LOTS OF MONEY to provide for your child or children with the opportunities you dreamed they would have?  From diapers to diplomas where would the money come from to pay for daily living
expenses, daycare, college and everything in between? THINK INCOME REPLACEMENT!

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NON-WORKING SPOUSE

It’s a myth to think that the stay-at-home parent doesn’t need life insurance.  Although a stay-at-home parent does not provide what is considered “traditional” income, the value provided to the family is quite significant.  

They provide services that are expensive to replace, such as childcare, bookkeeper (bill payer), psychologist, cook, housekeeper, transportation and managing the household as a CEO.  What would happen if a stay-at-home parent was no longer in the picture? Who would handle all the duties he or she provides? Certainly, the breadwinner could not perform all these services while holding a full-time job.  

Life insurance dollars provide the funds needed to replace the costs for the duties no longer performed by the stay-at-home parent or for you to be at home with your children during this difficult time without it becoming a financial hardship as well.  From a www.salary.com  2014 survey of stay-at-home parent = $118,905 annual salary working on a 94-hour average work week.

If something were to happen to a stay-at-home spouse, it would be emotionally devastating for the surviving spouse and children.  There are many emotional repercussions of such a tragic loss to a family. But there
could also be a tremendous financial impact, as well.

Often, friends or relatives will step in to assist during the first few crucial weeks.  But eventually, they will need to return to their regular lives – and
the surviving spouse will need to return to work.  At that point, the only recourse will be to hire someone, and this could create a financial hardship.

Life insurance allows you to pay for this care.   The loss of a parent is devastating on a family; purchasing life insurance coverage for a stay-at-home spouse can help ensure that it doesn’t become a financial hardship or tragedy as well.  THINK INCOME REPLACEMENT!

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Modern Family

HOMEOWNERS

Like most people, your home is your most significant financial asset.  Life insurance allows for the continuation of mortgage payments or the entire mortgage can be paid off.  The peace-of-mind
and financial security life insurance provides prevents loved ones from having to relocate or move
to a less expensive home.  Plus, life insurance money provides the funds needed to help family members maintain their lifestyle to which they’re accustomed.  THINK INCOME REPLACEMENT!

It’s a good time to re-evaluate your life insurance coverage if you’ve recently been promoted or changed jobs.  Why?
You may not realize it, but when your income rises, your spending tends to rise, too.  Reviewing your life insurance coverage
can help ensure that your loved ones would be able to maintain their new and improved lifestyle if something were to happen to you.
Is your life insurance keeping up with your financial success?  THINK INCOME REPLACEMENT!

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LIFE INSURANCE – GOING FORWARD
PLANNING FOR YOUR LATER YEARS AND RETIREMENT

Your children are on their own and your mortgage is paid off.  You might think there’s no need for life insurance now, but consider the value life insurance can provide in retirement, especially if your life insurance is designed to outlive you.  Life insurance that pays a death benefit no matter how long you live simply let’s you spend more of your money during retirement allowing you to enjoy your
later years to their fullest.   
THINK LIFESTYLE INSURANCE IN RETIREMENT!     

More insights in “Life & Rethinking Life Insurance Going Forward – Aging Changing Priorities in an Aging Changing World”.

Marc Maretsky Personal Insurance Services based in Beverly Hills, serves all of California and the United States.  I help my clients acquire life, disability, long-term care, and critical illness insured solutions, as well as enroll them into Medicare when eligible.

“No matter how fast technology changes our world and everything around us.  I believe the personal touch and a human voice are more important than ever.”

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