Everyone has a different reason for purchasing a life insurance policy. If you aren’t familiar with life insurance, you aren’t alone. Many Bourbonnais, IL residents think of it as a way to pay out money to their beneficiaries when they die, but it can be used for much more than that. At George Ryan Jr. Insurance Group Inc., we help our clients find the right life insurance policy. The following are three reasons to consider purchasing a life insurance policy.
Three Reasons to Consider Buying a Life Insurance Policy
- Immediate Payout – There are other ways to pay out your benefactors when you die, but none of them pay as quickly as a life insurance policy. At George Ryan Jr. Insurance Group Inc., we pay out immediately. This means your family won’t have to wait for money and miss paying bills after you are gone. Another bonus to this payout method is that life insurance policies are typically subject to income tax at the federal level.
- Growth – The more you pay for your life insurance, the more it grows. It is treated like a savings account, so your cash value will increase with interest over time. You can even withdraw your money early to help with costs during retirement or supplement your fixed income. Life insurance is a great asset to help meet financial goals.
- It’s Affordable – People often balk at the idea of purchasing life insurance because they think the premiums will be too high. This is usually not the case. Once you research the benefits of having a life insurance policy, you will realize just how affordable and valuable it is.
If you want to purchase life insurance to help with your long-term financial goals and protect your beneficiaries after you die, contact us at George Ryan Jr. Insurance Group Inc today. We will help you select the perfect plan for you based on your goals.
