• Home
  • Currently Insured?
  • Get A Quote
  • Customer Service
  • Refer a Friend
  • About Us
  • Location Map
  • Employee Directory
  • Privacy Policy
  • Contact Us
Call Us CALL US TODAY | (732) 295-5584 | INEAGENCY@GMAIL.COM
Home
  • Home
  • About Us
    • About Us
    • Benefits of Using an Independent Agent in Freehold, NJ
    • Why Use an Independent Insurance Agent in Point Pleasant?
    • Location Map
    • Privacy Policy
    • Event Calendar
  • What We Offer
    • Annuities
    • Automobile
    • Bonds
    • Business & Commercial
    • Dental
    • Flood
    • Homeowners
    • Life & Health InsuranceImage of right arrow
      • Jackson Township Life Insurance
    • Limousine
    • Recreational Vehicle
    • Renters
    • Retirement Planning
    • Trucking
    • Watercraft & Boat
  • Get A Quote
    • Quote Forms
    • Auto Insurance Quote
    • Bond Request Form
    • Business & Commercial Insurance Quote FormsImage of right arrow
      • Builders Risk
      • Business Owners (BOP) Quote Form
      • Commercial Auto Insurance Quote
      • General Liability Quote Form
      • Liquor Liability Quote Form
      • Workers Compensation Quote
    • Dental Insurance Quote
    • Earthquake Quote
    • Flood Quote Form
    • Health Insurance Quote FormsImage of right arrow
      • Disability Insurance Quote
      • Health Insurance Quote
      • Long Term Care Insurance Quote
    • Homeowners Insurance Quote FormsImage of right arrow
      • Homeowner Flood Quote Form
      • Homeowners Insurance Quote
    • Life Insurance Quote FormsImage of right arrow
      • Life Insurance Quote
      • Senior Life Insurance-Final Expense Insurance
      • Term Life Insurance Quote
    • Limousine Quote
    • Recreational Vehicle Insurance Quote
    • Renters Insurance Quote
    • Retirement Plans
    • Truck Quote Request
    • Watercraft Insurance Quote
  • Currently Insured?
  • Blog
  • Resources
    • Secure File Area
    • Refer a Friend
    • Important Links
    • Calculators
    • Free Reports
    • Make a Payment
    • Insurance Glossary
    • Customer ServiceImage of right arrow
      • Customer Service Forms
  • Contact
    • Contact Us
    • Join Our Newsletter
Auto Insurance AUTO Read More
Home & Flood Insurance HOME & FLOOD Read More
Business Insurance BUSINESS Read More
Life & Health Insurance LIFE & HEALTH Read More
Watercraft Insurance WATERCRAFT Read More
Retirement Planning RETIREMENT PLANNING Read More
Home > Blog > Why You Need Life Insurance
THURSDAY, AUGUST 15, 2019

Why You Need Life Insurance

FOR IMMEDIATE RELEASE:

Contact: Amanda Edmunds

I & E Insurance Agency

www.getinsurancequotetoday.com

732-295-5584 

ineagency@gmail.com


Life insurance is “insurance that pays out a sum of money either on the death of the insured person or after a set period.” Many people find that the concept is too complicated to even bother with despite it being a necessary part of personal finance. Life insurance policies are chosen based on your needs and goals, with several varieties to cover your unique desires. 

Before you can pick your policy, it’s important to know exactly what you’re looking to do and knowing the reasons why you need life insurance is the first step! 


  1. Income Replacement

The main purpose of life insurance is to provide financial security to your loved ones once you pass away. In the event that you die suddenly, life insurance can help keep your family on their feet, especially in the event that they rely solely on your income. Life insurance is a valuable method of income replacement as it ensures your family will still be able to make ends meet in the event that they lose your income. In many cases, income replacement makes up the largest portion of your life insurance policy. Many professions suggest a range of 5 to 10 times your annual salary so that ongoing living expenses will still be covered until your family can begin to put the pieces of their lives back together. 


  1. Pay Off Debts

In the event of death, your debts don’t just disappear. Life insurance is a surefire way to make sure that your family doesn’t get saddled with the responsibility of your repayment. Through a thorough life insurance policy, you can leave your family with enough to keep the collection agencies and creditors from coming after your estate and as such, leaving your heirs with the depleted remainder. This goes for mortgages, student loans, and any other lingering financial responsibilities.  


  1. Final Expenses

Did you know that the average funeral costs between $7,000 and $9,000? This only includes burial, service fees, transporting to the funeral home, a casket, and embalming. Do you want to leave your family to cover the brunt of these costs on their own? While there are pre-payment options for funerals, it’s more beneficial to your family to take out a life insurance policy that can easily cover these out of pocket costs. These final expenses also include medical bills, which can easily run into the tens of thousands of dollars. A final expense policy can be helpful in these instances.


  1. To Leave an Inheritance

While you might not have the direct funds to create an inheritance for your children or heirs, you can easily do so by buying a life insurance policy and naming them beneficiaries. Through this, you can create a strong financial future for them long after you're gone. This money can be used to pay for your children’s future expenses like college or trade school, a surefire way to ensure they have the tools necessary to survive as adults. 


  1. Business Planning

Life insurance isn’t just for you and your family, but for your business as well. If you’re involved in a partnership with someone else, you should both have a policy. This will protect the living partner from the financial baggage of running a business on their own. Typically, small business owners engage in a buy-sell agreement. This is a legally binding contract that governs the situation in the event that someone dies or is forced to leave the business otherwise. This stipulates how a partner’s share of a business may be reassigned. Typically, it states that the available share is sold to the remaining partner. 


Of course, once you’ve decided that you’d like to purchase a life insurance policy, it’s important to determine which type of plan fits best for you. There are many different types to choose from! Our agents at I & E Insurance Agency specialize in finding the perfect fit for you and your family! 


Posted 11:30 PM

Tags: life insurance, insurance policy, insurance, inheritance, business planning, final expenses, insurance agency, insurance agency nj, new jersey insurance, new jersey life insurance
Share |


No Comments


Post a Comment
Required
Required (Not Displayed)
Required


All comments are moderated and stripped of HTML.

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
  • 2022
  • 2021
  • 2020
  • 2019
  • 2018
  • 2017
  • 2016
  • 2015
  • 2014
  • 2013

  • insurance(48)
  • flood insurance(29)
  • home insurance(21)
  • auto insurance(18)
  • seaside(15)
  • disaster(15)
  • point(15)
  • high end(15)
  • ocean(15)
  • mantaloking(14)
  • life insurance(13)
  • commercial insurance(12)
  • business insurance(10)
  • insurance new jersey(10)
  • property insurance(9)
  • nj home insurance(9)
  • coastal home insurance(8)
  • coverage(8)
  • nj flood insurance(8)
  • insurance jersey shore(8)
  • flood(7)
  • homeowners insurance(7)
  • liability(7)
  • car insurance(6)
  • retirement(5)
  • blog(5)
  • new jersey insurance(5)
  • best insurance agency of ocean county(5)
  • auto(5)
  • nj auto insurance(5)
  • home insurance quotes(5)
  • bolg(5)
  • workers comp insurance(5)
  • annuities(5)
  • retirement planning(5)
  • insurance quotes(5)
  • coastal property insurance(4)
  • policy(4)
  • small business insurance(4)
  • get a quote(4)
  • classic car insurance(4)
  • life(4)
  • health(4)
  • planning(4)
  • ira rollovers(3)
  • boat insurance(3)
  • ocean county flood insurance(3)
  • affluent home insurance(3)
  • how much is classic car insurance(3)
  • top nj insurance agents(3)

View Mobile Version
Facebook
Narragansett Bay logo
UPC Insurance logo
Travelers logo
The hartford logo
metlife logo
new jersey skylands insurance logo
progressive logo
facebook logo

Resources

Home About Us Get a Quote Customer Service Newsletter Contact Us
Chamber Certified
trusted choice logo
professional insurance agents logo
Car Insurance Agencies

Contact Us

location icon
  • I & E Insurance Agency
  • 2900 Route 88
  • Point Pleasant, NJ 08742
  • Phone: 732-295-5584
  • ineagency@gmail.com

This web site may contain concepts that have legal, accounting and tax implications. It is not intended to provide legal, accounting or tax advice. You may wish to consult a competent attorney, tax advisor, accountant or your own financial advisor. EMC Insurance Agency & Financial Services LLC dba I & E Insurance Agency & Financial Services is an Independent Insurance Agency, a Member of the Trusted Choice , Independent Agents of America and member of the ANE Network of Independent Insurance Agents, contact your own advisors before making any decision.

Services offered through independent NON-AFFILIATED ENTITIES

© Copyright. All rights reserved.
Powered by Insurance Website Builder