When you’re developing your estate plan, you will want to ensure that you purchase a life insurance policy in Buena Vista, VA. The older you get, the more expensive the coverage is. However, if you are 50+ and do not have life insurance, it isn’t too late to speak to Stonewall Grace Insurance about your options. The benefits will outweigh the costs of the policy. Here are just a few reasons you should get this type of personal insurance.
It Can Supplement Retirement Account Funds
Some forms of life insurance have the potential for investment. These insurance policies will allow the withdrawal of money against the cash value of your life insurance policy as needed. If you do not have sufficient savings for retirement, an appropriate policy can supplement your existing savings and help ensure a retirement that is as comfortable as possible.
It Can Help with the Care for an Ill or Disabled Family Member
If you are the primary caregiver for a family member, a life insurance policy can serve as a safety net to cover any finances after your passing. This type of policy can cover a variety of living and medical care expenses.
It Can Pay for End-of-Life and Funeral Expenses
While you may be equipped with great health insurance, it may not be enough if you are diagnosed with a terminal illness. On top of that, upon your death, funeral expenses can be expensive. This is particularly true if you wish for a traditional burial and memorial service. A life insurance policy offers death benefits that can be used to help pay for both of these, ensuring your family is not left with the financial burden of your death. This allows them to grieve your loss.
If you are ready to take control of you and your family’s future in Buena Vista, VA, speak to us at Stonewall Grace Insurance about your life insurance choices.