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Life Insurance
Life is an unpredictable journey, filled with highs and lows. Amidst it all, we hold a deep desire for the security and well-being of our loved ones. This is where life insurance comes into play, offering a commitment to safeguarding their futures. At Altamirano Agency, we’re here to guide you through this journey.
Life insurance isn’t just about finances; it’s a testament to your love and care. It’s the promise that your family’s dreams will endure, no matter what life brings. Join us as we explore the world of life insurance
What type of life insurance do I need?
Term Life Insurance
Provides safeguard for a specified term without increasing costs and guarantees a death benefit as long as premiums are paid.
Whole Life Insurance
Permanent life insurance offers guaranteed level premiums, death benefits, and cash value accumulation over time.
Universal Life Insurance
Our permanent life insurance offers valuable flexibility options to adapt to your ever-changing priorities and evolving needs.
What type of life insurance do I need?
There isn’t a one-size-fits-all life insurance policy that suits everyone. You have the flexibility to select a policy that aligns with your unique financial and personal circumstances.
Term life insurance could be a suitable choice for you if:
- Your main objective is to obtain cost-effective coverage.
- You require coverage for a designated period, such as to support your family in the event of your passing while your children are in college (to cover tuition) or during the duration of your mortgage (to assist with loan payments).
- You intend to leave behind an inheritance or funds specifically for funeral expenses and other end-of-life costs.
You might want to explore permanent (whole or universal) life insurance if:
- You have a long-term dependent, such as a child with disabilities.
- You intend to create a legacy for your heirs to assist with estate or inheritance taxes.
- You desire the flexibility of utilizing the accrued cash value to:
- Finance significant purchases or settle substantial debts.
- Cover medical expenses in the event of illness.
- Save for or pay for educational expenses.
- Offer financial assistance to loved ones during times of necessity.
- Address caregiving costs, such as taking time off work to support a family member.
What amount of life insurance should I obtain?
To determine the right insurance coverage:
- List outstanding debts (e.g., mortgage, loans).
- Assess current financial support for loved ones.
- Define the expenses the insurance should cover.
- Consider dependents’ needs and support.
- Factor in medical bills, funeral costs, and end-of-life expenses.
A common guideline is 7-10 times your annual income for coverage.
Don’t leave your loved ones unprotected. Choose Altamirano Agency for Life Insurance that transcends generations. Contact us today to discuss your options and take the first step towards a secure tomorrow.