The main purpose of life insurance is to provide financial help to your family should you die unexpectedly. The money your dependents, such as your spouse and children, will receive from life insurance is called a death benefit.

    Life insurance is an important financial resource, which can be used to pay off the mortgage, college tuition bills, and other debts. Income generated by the death benefit is designed to replace the income that would have been generated by your job.

   Having a life insurance policy protects your family from having to sell assets to pay outstanding bills. Your family will not have to pay federal income taxes on the proceeds of your life insurance policy.

   What determines your life insurance need? Your life insurance needs change as your life changes. When you are young, you may not have a need for life insurance. However, as you take on more responsibility and your family grows, your life insurance needs increase. You should periodically review your needs in order to ensure that your life insurance coverage adequately reflects your life situation.

How do I estimate my life insurance need?

• Income rule 6 to 8 times gross annual income
• Income plus expenses 5 times gross annual income plus expenses
• Premiums as percentage of income 6 percent of annual gross income plus one percent for each dependent
• Family needs approach considers immediate needs and ongoing needs

   Final expense insurance, also known as burial insurance or simplified life is essentially a whole life insurance product with a simple application process and small face value. Typical values range from $5,000 to $25,000 although policies can often be written outside of that range.

   This type of insurance is designed to be conveniently purchased without the requirement of a medical exam or a complex questionnaire. Applications can be completed over the phone, only a few health questions are asked and no home visit is required.

   This type of policy is ideal where the primary concern is the payment of final expenses such as:

• Medical bills
• Funeral expenses
• Outstanding debts
• Administrative expenses

Aside from the simple application process this type of insurance features:

• An accumulating cash value that is available for emergency expenses
• A death benefit that never decreases
• Premiums that never increase
• Policy cannot be canceled regardless of age or health as long as premiums are paid
• Accelerated death benefit: receive up to 50% of the death benefit early if diagnosed with a terminal illness

   No one understands your life insurance needs better than us. We are committed to providing you with smart, flexible life insurance solutions. But our understanding goes far beyond our broad mix of competitive products.

When it comes to life count on us to understand.

Our associates are ready to assist.

Apply for life insurance online by clicking on www.kyblue.justerm.net.

With Kindest Regards,
Bob Puckett