Life Insurance

McBride Insurance Serves Clients’ Life Insurance Needs With A Personal Touch

If you’ve been searching for help with Life Insurance, then you have probably read how important this type of coverage is for you and those who depend on you. But sometimes the critical reasons for purchasing this insurance policy are not as clear-cut to people, especially if you are younger, have no family, or don’t have many assets.

That’s why we are glad you’ve found McBride Insurance. We are going to provide you with the most essential facts about Life Insurance and the real purpose for having this policy regardless of your age or stage of life.

Life Insurance in your 20s and 30s

If you’re in your 20s or early 30s, and seeking information about life insurance, then you’re likely at the stage of life where you are making significant decisions about your career path, buying a home, or having a family. You’re also potentially in the process of paying back debt from your education and starting to save or invest any extra money you have left at the end of the month. And while we can’t know for sure, McBride Insurance guesses that you are probably much more cautious about what you spend your hard-earned cash on than you were as an impulsive teenager. You’re looking to buy things that are good investments for you now and for the future.

If this describes you and where you are in your life today, then McBride Insurance strongly suggests you consider investing in a Life Insurance policy. Getting coverage when you are young is a powerful way to establish an excellent financial foundation for you and those you care about for several reasons:

  • 1. The earlier you buy life insurance the more you will save.

    We are actually talking about thousands of dollars in savings! There are a variety of factors that will determine your life insurance premium, but your age is the most critical one.

  • 2. The healthier you are the less costly your insurance will be as well.

    Buying life insurance in your 20s or 30s is a smart decision because it’s generally before you have developed any chronic health conditions and this can mean you pay substantially less in premiums.

  • 3. You can get more coverage for less money.

    Not only does buying Life Insurance when your young translate into low premiums, but it also may enable you to buy a lot more insurance coverage than you may be able to a few years down the road when you actually have dependents.

For those of you who may have started a family early, already have dependents and/or are the primary breadwinner, then the information in the next section, Life Insurance in your 40s and 50s is critical….

Life Insurance in your 40s and 50s

While most of us in our 40s and 50s don’t feel or look our age thanks to spin classes, healthy diets, and all of the amazing cosmetic and skin care technology available today, chronologically we can’t ignore the fact that we are entering into middle-age. With maybe 15 to 25 years left in our career life, we are focused on being very financially savvy, building our 401Ks and IRAs, and paying off our mortgages and any other outstanding loans, so we can retire at 65 and enjoy our non-working years. The challenge, though, is that many of us are sandwiched between helping our kids get through their education or early working lives and assisting our parents with home and property upkeep and medical concerns. Not to mention, we are still trying to be rock stars at our workplace.

With so many people relying on you for support and with all your plans for the future, it is crucial that Life Insurance be part of your financial portfolio, if not the priority. Here are a few key reasons why you should buy life insurance:

  • 1. Replaces income:

    This coverage is often the saving grace for families who lose a loved one because it replaces the income that your dependents count on.

  • 2. Pays final expenses:

    Everything from funeral and burial costs, to probate and other estate administration costs, to debts and medical expenses not covered by health insurance are included in a life insurance policy. This can literally save your loved ones tens of thousands of dollars in expenses.

  • 3. Creates an inheritance:

    Even if you have no other assets to pass to your heirs, you can create an inheritance by buying a life insurance policy and naming them as beneficiaries.

We all want to be healthy and happy and have close relationships with family and friends as we age, but feeling financially secure ranks very high in importance for us as well. The proper Life Insurance policy will deliver the peace of mind that you desire when it comes to safeguarding your loved one’s future in the event something happens to you. Let McBride help you protect the financial future of those you love most.

Already have a life insurance policy? That’s excellent. Read the next section, Life Insurance in your 60s, 70s and beyond to understand how to navigate this financial resource when you retire.

Life Insurance in your 60s, 70s and beyond

We realize you probably bought a life insurance policy quite awhile ago, so we want to focus on making sure you know how it can be used now that you are in your 60s, 70s and beyond. If you’re in a situation where your kids are all grown up and independent, and the majority of your debt and obligations are paid off, you may want to consider life insurance an asset, rather than a benefit, and use it to enjoy your life to its fullest. If you were to consult with McBride Insurance on life insurance, we would review the following:

  • 1. Are there less expensive policies available today?

    It’s quite possible you could trade your current policy in for a more affordable one.

  • 2. Do you have a term life policy?

    We will look at when the term coverage ends, and make sure you are prepared to renew or purchase a new policy at the most affordable rate. We may also review whether your term coverage can be converted to permanent life.

  • 3. Do you have a permanent (whole) life policy?

    If so, then you have probably accumulated savings on a tax-deferred basis which could be a source of borrowed funds for a variety of purposes.

We know that you want to have financial security as you age and your life insurance policy can play a significant role in getting you there.

Before you decide on Life Insurance, call McBride

You may have come to McBride Insurance looking for help with your first life insurance policy or because you aren’t confident that your current policy has adequate coverage. Or, perhaps you are now interested in learning how to cash in on your life insurance policy. We can show you how to make your life insurance work for you no matter what stage of life you are in today and what you, and your family, have planned for the future. Please contact us for life insurance insights at 978-663-3301.

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