Custom Life Insurance Policy in Woodbridge
Life insurance can protect your loved ones from lost income, easing the financial burden of losing you. Leaving some sort of financial security behind for those closest to you will ensure that your debts will be settled, your funeral will be paid for, and your survivors can maintain their standard of living or continue their education. As a local, independent insurance broker, Ken Maynard Insurance Brokers Ltd. can help you select life insurance at our Woodbridge office that will help achieve the financial goals you want for your survivors.
Life Insurance Is as Important as Your Will
You wouldn’t want to die without a will, only to leave your family or friends with the daunting task of dealing with your financial records, bills coming due, or outstanding debts without direction. A life insurance policy with satisfactory coverage preserves the security you worked so hard to achieve together. Life insurance is an investment in your family’s future and an asset just like your savings account. If you own a business, life insurance is an important component of your commercial insurance, which can ease financial burdens and confusion for both your family and surviving business partners.
Choose Your Best Policy
How do you decide what insurance policy is best for your needs? Our insurance brokerage in Woodbridge offers more than 50 years of experience in helping our clients analyze their insurance needs. You have choices in standard permanent life insurance policies, including:
- Whole life insurance: Gives you consistent premiums for the life of your policy; tax deferments for growth in cash value; cash value accumulations you can borrow from; and permanent protection as long as you make required, on-time payments
- Universal life insurance: Lets you adjust premiums and coverage; increase or decrease death benefits; accumulate tax-deferred interest; borrow from cash values while you’re alive; and have permanent protection and access to cash values
Your insurance broker will also discuss any additional options or riders that will customize your policy, some at no extra cost. Riders that may apply to your individual circumstances include but are not limited to:
- Accidental death benefits if you have a hazardous work environment
- Disability income benefit for supplementary income in case of total disability
- Accelerated death benefit for access to cash value in cases of terminal illness
- Children’s term life insurance to extend your policy’s benefits to your children
Choose the Right Amount of Life Insurance
It’s really never too late to buy life insurance, but don’t get left underinsured or paying for excess coverage. When you let Ken Maynard Insurance Brokers review your life insurance needs in Woodbridge, you will receive a personalized formula to accurately match your circumstances. Be prepared for you consultation with relevant information to factor in, which includes:
- Your annual income and employment status
- Number of children and their ages
- Value of a stay-at-home parent and/or child care costs
- Your mortgage balance or monthly rent
- Your debts and monthly household expenses
- Future needs – education, business or funeral costs
- Your current liquid assets – savings, life insurance or property
