Insure Your Love

Insure Your Love

 
 
 
 
The month of February celebrates love and Galvin Agency wanted to take this opportunity to discuss one of the best ways to love those you love most. Life insurance answers the question and uncertainty of how your family will manage should death occur. A good plan’s payments can be used to cover daily living expenses, mortgage payments, outstanding loans or debts, and other essential expenses. Most importantly, death benefit proceeds of a life-insurance policy are almost never subject to federal income taxes. Most Americans need life insurance and many who already have it may need to update their coverage.
 
 
 
 
 
 
 
 
 
 
 
 
 

Insuring the Times of Your Life

 

If someone depends on you financially, you probably need life insurance. Here are a few examples of individuals who should have life insurance:

 

If you’re married or getting married…
Many marriages contain two incomes. If one income was lost, would your spouse have enough money for debts, funeral costs, credit card balances, and daily living expenses?
 
 
 
Expecting or current parents….
If tragedy occurred, would the living parent have enough money for all of the expenses involved with children as well as any debt and funeral expenses? Single parents may need even more life insurance because of how much children depend on them.
A homeowner…

Your home is a significant financial asset. Life insurance can be used to pay down or retire the mortgage, sparing your family from being required to move to a less expensive home.

Someone changing jobs…

Usually when income increases, spending does as well. Updating your life insurance can insure that your family can maintain a new and improved lifestyle.

If you’re retired or planning retirement…
Often people only think of children when it comes to life insurance. If an elderly spouse dies, the other will need life insurance in order to avoid financial struggles in retirement.
 
If you’re single…
If you’re single but providing financial support for aging parents or siblings or you have significant financial debt, you would want to seriously consider life insurance.
 
 
 
 
 
 
 
 
 
 
 
 
How much life insurance do you need?
A general rule of thumb when calculating how much coverage you will need is to estimate 8-10 times your income. Life Happens has a helpful calculating tool on their website https://www.lifehappens.org/insurance-overview/life-insurance/calculate-your-needs/ and we can help you with this as well.

 

 

Did you Know?

We offer a wide variety of insurance products to include Home, Auto, Life, Annuities, Motorcycle, RV, ATV, Boat, Small Business, Rental, Umbrella, and Equine Mortality/Major Medical coverage.
 
Galvin Agency is here to help you with insurance questions, needs, and claims. We are here to assist you and our job is to make sure you feel protected and knowledgeable. Thank you for your business and we look forward to talking with you soon!
 

No person associated with this news letter receives any form of compensation for any products mentioned, nor should any mention of a particular product be considered an endorsement of that product. This newsletter is for informational purposes only and should not be considered authoritative on any topic. Please seek advice from an appropriate professional on any specific issue.

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Phone: 713-857-5554

Email: sgalvin3@gmail.com

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