Life insurance is much more than planning for the end of your life.
It’s about making sure your loved ones’ futures are secure. Death benefits can serve as a powerful financial tool during your lifetime, helping fund education, retirement, and/or create a lasting legacy.
A small monthly investment in premiums can provide substantial protection for those you love most.
At Rehm Insurance, we have deep experience in life insurance, and can help advise you about your options, so that you can make a confident decision about what suits you best.
Understanding Your Life Insurance Options
When considering life insurance, you’ll encounter several types of coverage, each designed to meet different needs
provides coverage for a specific period, often to age 80, making it an affordable choice for young families or specific financial obligations like mortgages or dependents’ education. While term insurance doesn’t build cash value, it offers pure death benefit protection at lower monthly premiums.
combines permanent protection with investment options, offering flexibility in premium payments and death benefits. This adaptability allows you to adjust your coverage as your financial situation changes.
Why Life Insurance Matters Now
Financial security lies at the heart of life insurance. Your policy can replace years of lost income, in the event of your untimely death, ensuring your family maintains their standard of living.
It covers immediate needs like funeral costs and ongoing obligations such as mortgage payments and children’s education. These financial benefits provide your beneficiaries with the resources they need resources to maintain stability and pursue their goals.
Beyond immediate family needs, life insurance can fund charitable causes you care about and create a lasting legacy.
Why should you buy life insurance now? Life insurance becomes more expensive as you get older, and delaying coverage carries significant risks. Beyond higher premiums, waiting could mean fewer coverage options if health conditions develop.
How to Determine Your Life Insurance Coverage Needs
Calculating adequate coverage starts with examining your current financial picture. Consider your household income, outstanding debts, and future expenses like education costs. While a common starting point is 10-15x your annual income, your specific situation might require more or less coverage.
Think about inflation and cost of living increases over time. You can also factor in any business succession plans, if you’re a business owner. Remember that your insurance needs will evolve as your life circumstances change.
Common Life Insurance Misconceptions and Mistakes
Relying solely on employer-provided insurance often leaves families underprotected. These policies typically offer limited coverage and do not follow you between jobs. Additionally, many people forget to update their coverage as their family grows or financial situation changes.
Another common oversight is not considering both spouses’ contributions to the household. Stay-at-home parents provide valuable services that would be expensive to replace, making life insurance essential for them as well.
How Rehm Insurance Can Help
At Rehm Insurance, we understand that choosing a life insurance policy for you and your spouse can feel overwhelming and even a little bit morbid. As your local insurance agency, we focus on making the process straightforward and comfortable. We’ll help you evaluate your family’s financial situation, compare options from top carriers, and find adequate coverage that fits your budget.
More importantly, we’re here to review and update your coverage as your life changes. Life insurance is not a one-time decision but an evolving protection strategy that grows with your family.
Let’s have a conversation about protecting what matters most to you. With the right life insurance coverage in place, you can move forward with confidence!