{"id":532,"date":"2021-03-22T03:45:22","date_gmt":"2021-03-22T03:45:22","guid":{"rendered":"http:\/\/pvainsurancegroup.com\/agent\/abbe-pensack\/?p=532"},"modified":"2021-03-22T03:47:10","modified_gmt":"2021-03-22T03:47:10","slug":"family-is-not-an-important-thing-its-everything","status":"publish","type":"post","link":"https:\/\/pvainsurancegroup.com\/agent\/abbe-pensack\/family-is-not-an-important-thing-its-everything\/","title":{"rendered":"Family is not an important thing. It\u2019s Everything!"},"content":{"rendered":"

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Six Life Stages That Trigger Life Insurance.<\/h1>\n
    \n
  1. Marriage<\/strong><\/li>\n<\/ol>\n

    When you get married, financial obligations become a joint effort. If one of you dies, a life insurance policy can help ensure the surviving spouse has the financial stability to maintain his\/her current standard of living. Additionally, as the cash value in a permanent* policy grows, more assets become available to pay down a mortgage, eliminate business debt or settle outstanding tax obligations. Death benefits paid to the surviving spouse can also help fund a child\u2019s education or supplement retirement.<\/p>\n

      \n
    1. Having a Child<\/strong><\/li>\n<\/ol>\n

      When your children are young, having sufficient life insurance for each parent is critical. If you or your spouse were to suddenly die, life insurance limits need to be able to pay for daycare, help\u00a0fund a college education\u00a0and cover everyday living expenses.<\/p>\n

        \n
      1. Mortgage Protection<\/strong><\/li>\n<\/ol>\n

        Life insurance is often purchased in amounts sufficient to cover the loan amount of a mortgage so that if you die, your beneficiaries will have enough money to pay off the balance. However, if you\u2019ve moved into a more expensive home or have remortgaged, the amount you owe the bank may actually increase. Additionally, you may have selected to extend your mortgage term at some point to reduce your monthly payments. So if you have a\u00a0term life insurance policy\u00a0with a 20-year limit (as opposed to a permanent policy), and you\u2019ve now extended your mortgage another 10 years, your life policy could end before your home is paid off.<\/p>\n

          \n
        1. Protect Your Business<\/strong><\/li>\n<\/ol>\n

          If you\u2019re self-employed, chances are the investments you\u2019ve made in your business have been substantial. If the value of your business has recently changed (the purchase of a new building, inventory or equipment), be sure your life insurance limits are set high enough to cover business debts that your family could be held responsible for when you die. Don\u2019t risk them having to liquidate assets to cover outstanding debt.<\/p>\n

            \n
          1. Living Single<\/strong><\/li>\n<\/ol>\n

            In the event of divorce, timely decisions should be made regarding the beneficiaries on your life policy. If you and your spouse don\u2019t have children, then it could be as simple as having the beneficiary on your policy changed. However, if you do have children, you\u2019ll want to consider steps that ensure the children are provided for when you die and this may not be through your former spouse. If you own the policy, then you may only need to request to have the beneficiary changed. If your former spouse owns the policy, then you may need to purchase a new policy naming your child or children as beneficiaries.<\/p>\n

              \n
            1. Retirement Planning<\/strong><\/li>\n<\/ol>\n

              The cash accumulation benefits of a\u00a0permanent life insurance policy\u00a0can complement a secure retirement. When making a withdrawal, you don\u2019t have to sell the asset as with stocks, and if you borrow against the cash value, there are typically no capital gains or ordinary income taxes involved. Unlike most investments and financial products, life proceeds are passed on to your beneficiaries tax-free.\u00a0Remember, loans against the policy accrue interest and decrease both the death benefit and cash value by the amount of the outstanding loan and interest.<\/p>\n

              Always consult with an insurance professional who can provide you with a personalized assessment based on your unique life stage and who considers your current and long-term objectives, potential for risk, and financial goals.<\/p>\n

               <\/p>\n

              Think life insurance is too expensive? Think again. There\u2019s a misconception about the cost of life insurance. People think it\u2019s expensive. But, let\u2019s look at the costs of a daily cup of coffee versus that of a $250,000 term life insurance policy for a healthy 30-year-old.<\/p>\n

              Click here to learn more\u00a0<\/a><\/strong><\/p>\n

              To contact me for more information, you can view my website at the link below as well as email or call me from the information listed.<\/span><\/p>\n

               <\/p>\n

               <\/p>\n

              Abbe S Pensack, CLTC<\/em><\/strong>
              \nAbbe Pensack Insurance, LTD<\/em>
              \nLong Term Care Insurance Specialist<\/em>
              \n              www.abbepensackinsurance.com<\/a><\/em>
              \n              www.linkedin.com\/in\/abbepens<\/a><\/strong><\/em>
              \n              Click here for Cost-of-care in your AREA!<\/a><\/strong><\/p>\n

              It is a pleasure to\u00a0receive a referral from my friends and clients<\/u><\/em>
              \nClick to view my\u00a0 \u00a0              Video Business Card<\/a><\/strong><\/em><\/p>\n

              970-846-0265\u00a0phone<\/em><\/em>
              \n              abbe.pensack@gmail.com<\/a><\/strong><\/em><\/p>\n

              For Emails Containing Personal Information\u00a0Click Here<\/a>\u00a0<\/strong><\/em><\/p>\n

              My mission is to help people when they are most vulnerable<\/em>
              \nProtecting your assets, security, and dignity<\/em>
              \nHelp me visit with someone you care about or love<\/em><\/p>\n

              \"\"<\/p>\n

               <\/p>\n

               <\/p>\n

              \n","protected":false},"excerpt":{"rendered":"

                  Six Life Stages That Trigger Life Insurance. Marriage When you get married, financial obligations become a joint effort. If one of you dies, a life insurance policy can help ensure the surviving spouse has the financial stability to maintain his\/her current standard of living. Additionally, as the cash value in a permanent* policy […]<\/p>\n","protected":false},"author":1,"featured_media":538,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[3],"tags":[],"_links":{"self":[{"href":"https:\/\/pvainsurancegroup.com\/agent\/abbe-pensack\/wp-json\/wp\/v2\/posts\/532"}],"collection":[{"href":"https:\/\/pvainsurancegroup.com\/agent\/abbe-pensack\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/pvainsurancegroup.com\/agent\/abbe-pensack\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/pvainsurancegroup.com\/agent\/abbe-pensack\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/pvainsurancegroup.com\/agent\/abbe-pensack\/wp-json\/wp\/v2\/comments?post=532"}],"version-history":[{"count":3,"href":"https:\/\/pvainsurancegroup.com\/agent\/abbe-pensack\/wp-json\/wp\/v2\/posts\/532\/revisions"}],"predecessor-version":[{"id":539,"href":"https:\/\/pvainsurancegroup.com\/agent\/abbe-pensack\/wp-json\/wp\/v2\/posts\/532\/revisions\/539"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/pvainsurancegroup.com\/agent\/abbe-pensack\/wp-json\/wp\/v2\/media\/538"}],"wp:attachment":[{"href":"https:\/\/pvainsurancegroup.com\/agent\/abbe-pensack\/wp-json\/wp\/v2\/media?parent=532"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/pvainsurancegroup.com\/agent\/abbe-pensack\/wp-json\/wp\/v2\/categories?post=532"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/pvainsurancegroup.com\/agent\/abbe-pensack\/wp-json\/wp\/v2\/tags?post=532"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}