LIFE INSURANCE
Life Insurance Is the Most Effective Way to Ensure Your Family Is Financially Secure
Life insurance is a powerful tool to provide financial stability for your loved ones after you’re gone. Without it, your family might face financial hardship, limited access to funds, or the loss of a critical source of income.
Life insurance policies come in two main forms: term and whole life. Term life insurance is an affordable option that offers coverage for a specified period, while whole life insurance, often referred to as “permanent” or “universal” insurance, provides guaranteed lifetime coverage and builds equity over time. While whole life policies come with higher premiums, they offer the added benefit of growing in value.
Protecting Your Family With Life Insurance
A comprehensive financial plan should include a life insurance policy to ensure your family’s security. Sudden loss due to health issues or unexpected events can cause immense financial strain. Life insurance helps to bridge this gap by offering a tax-free death benefit, allowing your loved ones to cover essential expenses without delay.
Even if you plan to pass on an estate, probate can take time, leaving your family in limbo. Life insurance provides immediate funds to help them move forward without unnecessary stress or delays.
Final Expense Life Insurance
End-of-life expenses can be a significant financial burden. Final expense life insurance is designed to cover these costs, including funerals, memorials, burials, cremations, and caskets. Some policies may even help with outstanding medical bills.
Premiums for this type of policy vary based on the coverage amount, your age, and your overall health. Let Fortunata Agency help you explore your options to ensure your family is prepared for these expenses.
Fixed Annuities
Fixed annuities provide financial stability by offering a guaranteed payout, protecting against market volatility. Depending on the plan, the remaining funds can pass to your beneficiaries, offering them additional financial security.
Some fixed annuities even include a death benefit, ensuring that your loved ones are supported after your passing. Speak with a Fortunata Agency agent to determine if this option fits into your financial planning.
Mortgage Protection
For most families, mortgage payments are one of the largest monthly expenses. Mortgage protection insurance ensures your family can maintain their home if you pass away before the mortgage term ends.
With this coverage, your home’s mortgage is paid off in a lump sum, giving your family the peace of mind that their home is secure, no matter what happens. Protect your family’s biggest investment with Fortunata Agency’s tailored mortgage protection plans.