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Life Insurance

A young father is the sole provider for his wife and three children. Although he earns a decent income, the family still has outstanding debt, as well as a mortgage that is not fully paid off. On the drive home from work, the father is involved in a fatal car crash. With the income source ceased, the wife is left with three children, a partially paid mortgage, and liability to creditors. The wife must now ask herself how she can pay off all her debt, and at the same time try to maintain the financially stable that her family has grown accustomed to.

How Life Insurance Could Have Helped

Had a properly developed life insurance plan been implemented on the life of father before his untimely accident, his family could have avoided many of the financial problems that arose. Mortgage insurance could have been purchased to pay off the outstanding mortgage. With the proceeds of the insurance, any outstanding debts could also have been re-paid. Finally, the remaining proceeds of the policy would have allowed the family to replace their sole source of regular income, and maintain their standard of living.

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Why Is Life Insurance So Important?

As evident in the scenario above, there are additional problems that arise when an individual passes away, above and beyond the emotional trauma. Unfortunately, there is little that can be done to lessen the effect of someone's passing. The good news is that you can address the financial problems that will occur. 

Contents insurance

This covers assets that you store at your business premises. If you are leasing space for your business, the owner of the property probably has property insurance, but you are likely responsible for your own contents insurance. If you run your business out of your home, you will likely need separate contents insurance for your business assets.

Taking out a life insurance policy can provide one with the following benefits: 

Liquidity:

Insurance proceeds can provide cash to pay taxes, outstanding bills, last expenses, and most importantly replace lost future income.

Tax Minimization:

For a minimal investment, funds can be created to eliminate the impact taxes have on an individual's estate.

Estate Creation:

Insurance can be a low cost method of creating financial resources needed in time of loss of an income earner.

Business Continuation:

In business partnerships, the death of one partner can jeopardize the survival of a business. Fortunately, insurance can provide funds to pay business expenses or buy out disabled partners if needed.What

Types Of Life Insurance Are Available?

Depending on your current and long-term financial needs, there are different types of insurance products available to help you prepare for the unexpected. The two main categories of insurance are Term Insurance , which offers temporary protection, and Permanent Insurance , which provides long-term protection. Although permanent insurance is generally more expensive than term insurance initially, over time it evens out, and eventually permanent insurance surpasses term insurance in savings.

How Much Coverage Do I Need?

Everyone has different insurance needs, specific to their financial, business, and family situation. Insurance coverage should be tailored to your unique situation, addressing those things that matter most to you. To discuss your needs, please give us a call at 289-317-1352, or contact us via email at info@freedomib.com.

Which insurance is right for you?

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Lo spintore situato nella posizione delle ore 10 viene utilizzato per regolare la replica Patek Philippe quando si passa a un nuovo fuso orario, repliche orologi con incrementi di un’ora, che si sincronizzano simultaneamente con la lancetta delle ore centrale e l’anello delle 24 ore.

A medida que cambia la zona horaria, el mecanismo de zona horaria incorporado se desacopla del movimiento,replicas de relojes de modo que la balanza y la manecilla de minutos continúan funcionando sin verse afectados, manteniendo así la hora exacta.

Cartier past nog steeds in hun kenmerkende Romeinse replica horloges cijfers, inzet Ballon Bleu Crown en niet beknibbelen op de beweging.

AAA quality fake Cartier managed to add an automatic movement while keeping fake watchesthe watch only 10mm thick.

Il robusto calibro Rolex 3230 con scappamento Chronergy ha una precisione di ±2 secondi al giorno, oltre il doppio della precisione di un cronometro COSC replica orologi italia standard.