Life Insurance
Life Insurance
At Lau Insurance Services we understand the need of taking care of family. Let us help you with the peace of mind that Life Insurance can provide.
The first step to purchasing Life Insurance is to determine what financial issues would arise if something happened to you. Such issues include:
Lost Income – If your family depends on your income, life insurance is critical for keeping them financially secure. The specific amount of coverage you need for this depends on how much you make and how much your family spends. But in general, you should take 60 percent of your income and multiply that by 10; the result should be enough to keep your family solvent.
Debts & Expenses – Consider any debts you’ll be leaving behind, including student loans, credit card debts, and remaining mortgage payments. You should also factor in expenses that will result from your death, such as funeral costs. Make sure your insurance policy provides enough to cover all this.
Taxes – Even if you already have assets to leave behind, it may still be a good idea to buy a life insurance policy. Such a policy can cover estate taxes and other taxes that you leave behind, so your family can inherit your wealth with minimal losses.
Business Obligations – Consider your responsibilities to any business partners you may have. If losing you would put your company in financial jeopardy, you may want to buy life insurance to compensate your firm.
Make sure you are appropriately covered. When choosing life insurance you want the best coverage you can afford. Let us shop for you. As an independent insurance agent we have many options for you.