Life Insurance 101

Did you know that 70% of households say they would have trouble covering everyday living expenses within months of a primary wage earner's death?  

The topic of life insurance can often seem unnerving however, every family member has a need for life insurance.  To put it simply, life insurance may be one of the most important decisions and purchases you'll ever make.  You insure assets such as your home and car, but your most important asset is your ability to earn an income.  In the event of a tragedy, life insurance can help your loved ones:

• Pay for funeral costs
• Pay off outstanding debt such as mortgage, credit cards and other loans
• Help pay ongoing living expenses and other bills
• Continuation of a family business
• Protect your spouse's retirement plans
• Finance future needs such as your children's education

Life. It's Worth Insuring.

There is not a "one-size-fits-all" life insurance product. Regardless of where you're at in life, we have products tailored for you including:

• Term Life - 5, 10, 15, 20, 25 & 30 year terms
• Accelerated Term (Quickly qualify for up to $500,000 with no medical exam and a streamlined application process.)
• Universal Life with Death and Living Benefits
• Whole Life for long-term goals
• Disability Insurance
• Long-Term Care

Insurance for Every Family Member

• Newborns: Life insurance provides insurability and funeral expenses. Whole Life policies with guaranteed insurability riders.
• High School and College Grads: Life insurance affords insurability and proceeds to eliminate student debt and funeral obligations. 
• Young, Single Adult: Life insurance allows future insurability and private coverage to follow the individual during their lifetime.  Allows for financial obligations to be met: mortgage, auto loans, college debt and final expenses. 
• Young, Married Couple: Life insurance allows for debt reduction: mortgage, auto loans, college debt, child care and final expenses.  Income replacement is of special importance, especially when two incomes are being used to maintain the household. 
• Nearing Retirement Age: Financial Umbrella policy, pension maximization and charitable, generational giving.
• "Golden Years": Life insurance protection for funeral costs, loan payments, medical expenses and gifting.

It is never too late to get started and the process of getting life insurance doesn't have to be hard.  Top O' Michigan Insurance has made it easy to walk through and determine how life insurance can help protect you, your loved ones, and their future.  If you have recently experienced a major life event such as:

• Change in marital status
• Birth of a child or grandchild
• Sell, purchase or refinance of home
• Start or purchase a business
• Death of family member
• Change of employment 
• Retirement
• Health changes or concerns
• Changes in assets

...you should meet with one of our licensed solution providers to ensure your current plans meet your needs.