Life Insurance provides for your spouse, children, and other dependents, upon your death.
The amount and type of life insurance you need is dependent upon your specific situation. The factors your financial advisor will consider include your current salary, the number of children you have and their ages, your current salary, your financial obligations, and your lifestyle.
There is no cookie-cutter solution to determining the amount of insurance needed or the type of insurance.
Permanent life insurance has a cash value that can be borrowed against and can be cashed out by surrendering the policy.
Term life insurance costs less but is only in effect for the specified term of the policy. Many families choose to have a combination of permanent and term.
You may also consider purchasing long-term disability insurance if your employer does not offer it or if your employer’s long-term disability plans might be inadequate to cover a true long-term disability.
Your 360 Financial Advisor will look at your complete situation and work with you to create a plan that works for you. With the myriad of life insurance options, it’s comforting to know that you have an advisor who understands the big picture and can take care of the details.
To schedule an appointment with Carl Strozyk, please call us today at 410.893.2100 or submit the brief form below and we’ll contact you directly.
