fbeaudryinsurance.com Life
 
 
Life insurance is a crucial step in planning for your future. Not only can life insurance fulfill promises made to your family if you are no longer around, there are several life insurance plans that provide benefits while you are living.
 
Why Do I Need Life Insurance?
Life is uncertain, and we need to be sure that our families are financially secure in the event that tragedy strikes unexpectedly. No one likes to think about it, but being prepared can prevent your loved ones from enduring unnecessary financial hardship. Over the long term, life insurance is a small and worthwhile investment that minimizes risk and protects the futures of those you love. Generally, you should consider life insurance if:
  you have a spouse
  you have dependent children
  you have an aging parent or a physically challenged relative who depends on you for support
  your retirement savings are not enough to insure your spouse's future against a rising cost of living
  you have a sizable estate
  you own a business
 
There are benefits of life insurance other than providing for your loved ones in case something happens to you:
  The cash value earned and borrowed from a permanent life insurance policy can be used to help with large expenses, such as a college education or down payment on a home
  The growth of a cash-value policy is tax-deferred – you do not pay taxes on the cash value accumulation until you withdraw funds from the policy
  Life insurance can be used to cover funeral expenses and pay estate taxes – consult your tax advisor or financial agent for more information
 
There are several types of life insurance programs that meet a wide variety of personal needs. Whether you want maximum death-benefit protection, low-cost premiums or opportunities to safeguard your assets and invest for the future at the same time, Francis Beaudry Insurance Agency can offer all the information you need to make the best choice.
 
What is the Difference between Term and Permanent Life Insurance?
Choosing which category of life insurance is right for you - term or permanent - will depend on your personal preference as well as your financial situation. Term life insurance offers death-benefit protection for a specified time period. Policies are available to meet your short and longer-term needs, and some term policies can even be converted into permanent policies later on. Examples of term life insurance policies include non-guaranteed, yearly renewable and convertible term insurance.

Permanent life insurance also offers death-benefit protection, but this form of coverage lasts for an entire lifetime. It usually features a fixed premium, generally accumulates a cash value on a tax-deferred basis and may also deliver dividends. Whole life and universal life are some examples of permanent life insurance.

 
Life Changes – So Should Your Policy
Your need for life insurance is dependent on your personal and financial needs. As your life changes, your life insurance coverage may need to change as well to adapt to your current needs. Some life changes that may require a policy "tune-up" include:
  you recently married or divorced
  you have a new child or grandchild
  your health or your spouse's health has deteriorated
  you are providing care or financial assistance to a parent
  your child or grandchild requires assistance or long-term care
  you recently purchased a new home
  you are planning for a child or grandchild's education
  you are concerned about retirement income
  you have refinanced your home mortgage in the past six months
  you or your spouse recently received an inheritance
 
For more information on what coverages are appropriate for you, please email or contact us.