Raymond Longoria Insurance Click to Call
Raymond Longoria Insurance

Home Automobile Homeowners Life Business Health

Pregnant Woman and Her SpouseResponsible buyers know their long-term needs. If you've recently purchased a life insurance policy, you should know how life's curveballs can impact your payments.

Adequate coverage is a relative term, and it can change as your lifestyle does. Aside from financial responsibilities, here are a few ways your life insurance coverage will change as you age.

Having a Child


It's important to have a strong life insurance policy when your kids are young. Why? If you or your spouse die, life insurance limits will need to expand to pay for daycare, school, and college. Your everyday living expenses may increase, too.

Protecting Your Own Business


If you are self-employed, you may find yourself needing additional coverage. If your business' value changes, your life insurance policy will also change. Make sure your life insurance limits are high from the start. Leave enough wiggle room to cover business debts.

Replacing Your Income


Social Security, pension plans and other retirement-based income benefits will likely impact your life insurance coverage. If this happens, a permanent life insurance policy may be a better option.

Repaying Debts


You'll likely pay off your debts, like mortgages, as you age. That said, your life insurance needs will decrease, on paper, as these debts are repaid. As you shrug off your financial burden, don't forget to reconsider your coverage options.

Estate Planning


Having a trust, or a will, is an essential stage of estate planning. However, you might have to pay taxes on some of your wealth. You should look into a life insurance policy's tax benefits. In many cases, you'll be able to pay estate taxes by reducing or even eliminating them. Life insurance policies could similarly provide up-front cash for any outstanding medical payments.

It's important to keep your policy in perspective. Life changes — sometimes rapidly. Before selecting a policy, ask yourself what could happen. Are you moving soon? Are you about to have kids?

These questions seem basic. But, each can help you plan your financial future before it arrives. Stay informed and up to date with modern life insurance practices. Always consider your retirement plans.

If you have questions about life insurance, we have answers. Call Raymond Longoria Insurance at (888) 296-0345 for a free Mission, TX life insurance quote.
Share |


No Comments


Post a Comment
Name
Required
E-Mail
Required (Not Displayed)
Comment
Required


All comments are moderated and stripped of HTML.
Submission Validation
Required
CAPTCHA
Change the CAPTCHA codeSpeak the CAPTCHA code
 
Enter the Validation Code from above.
NOTICE: This blog and website are made available by the publisher for educational and informational purposes only. It is not be used as a substitute for competent insurance, legal, or tax advice from a licensed professional in your state. By using this blog site you understand that there is no broker client relationship between you and the blog and website publisher.
Blog Archive


View Mobile Version

Footer Links Home Page About Us Carriers Home Page Quote News Contact Us

Raymond Longoria Insurance
2025 N Conway Ave
Mission, TX 78572
Phone: (956) 581-1034
Toll-Free: (888) 296-0345