The last couple of years have been unpredictable to say the least. Not many people in this modern era ever imagined that we would be dropped into the middle of a pandemic. This changed almost everything about the world overnight. It changed the way we do business, where and how we work, and how we socialize. There were also many people who changed their philosophies on how they plan for the future. One unusual phenomenon that occurred was the great resignation. A large portion of the workforce decided to quit the jobs they weren’t happy with, or they quit to spend more time with family and pursue entrepreneurial interests. They had a vision into their future, and they wanted it to be different. Another unintended result of the pandemic was the sense of mortality that some developed. It wasn’t that they thought they would live forever, but they chose not to think about passing on.
We all have a finite amount of time on this planet, and many of us have families that depend on us. Life insurance is a vehicle to attain future security for your loved ones. While there are many ways to save and invest (savings accounts, retirement funds, stocks, etc.), life insurance is a pronounced benefit for the living relatives. There are different types of life insurance, such as term life and whole life, and options are extensive. Meeting with Owen Landis, your local life insurance agent, would be a recommended path to better understanding how life insurance can benefit you and your family.
There are a plethora of benefits to purchasing a life insurance policy. Generally, life insurance payouts are not taxable, and loved ones do not have to report the payout as income. Living expenses of one’s family could be covered when the primary income earner is deceased. Also, funeral and burial expenses can be taken care of. There are additional benefits as well, such as coverage for terminal illness, which is available under certain policies. Again, receiving a consultation from a trusted, experienced insurance agent, such as Owen Landis and his team, will help to clarify options and provide education.
It is never too early or premature to explore life insurance options. In general, people receive better premium rates when they are young and healthy. It takes forethought and organization, but it’s most likely a good idea to peruse life insurance policies as soon as you can. Also, if you’ve always had a favorite charity, you can fulfill philanthropic goals when you pass. Or you can protect your family by using part or all of proceeds for estate taxes. This will allow your family to receive what you’ve wanted to pass along to them.
There are stories out there. One is about an uncle of a friend, who while driving home from work one day, forgot where he was. This was a route he had driven thousands of times in his life. He was five minutes from his longtime home. He was diagnosed with brain cancer and passed away six weeks later. Another story concerns a 40-something whose wife discovers a melanoma on his back while at the beach. The dermatologist removed the cancer, but the man was probably a month or two from his life becoming precarious. These are not messages meant to scare, but messages meant to prepare. At Landis Insurance Agency, Owen Landis and his team have been assisting and consulting clients for decades. Located near Parkville, Towson, and Baltimore, they are central and in close proximity to most of the metropolitan area. Owen Landis, insurance agent, will help walk you through life insurance options meant to protect your family, well into the future.