Having a Plan to Protect Your Loved Ones

What kind of plans do you have for your family in the case of an emergency? Do you have a fire evacuation plan for your house or plan to meet up at certain places when you go somewhere like Six Flags and then split up? What about if something were to happen to you and you died?

No one wants to think about what would happen to their spouse or children if they were to suddenly pass or become seriously ill, but if you want your family to be comfortable and financially stable no matter what the future holds then this is something that needs to be thought about.

Many people set up fire evacuation plans and keep fire distinguishers in their home along with working fire alarms in order to keep their loved ones safe. Do you? Maybe you should think about stopping at Home Depot on your way home and picking one up to keep under your kitchen sink and grab a few batteries while you’re there so you can check and replace those old batteries in your smoke alarms and cyanide detectors. 

Some mothers and fathers have to worry about kidnapping more than others. You don’t see big city parents telling their kids to just be back by dinner on the weekends like you do in the countryside. If your little bundle of joy loses you in the store do they know to find a worker and stay away from other kinds of strangers? Have you set up meeting points for you and your teens when you take them to theme parks? It is always important for you to have plans for your loved ones and not only small plans like this. Do you have a plan in the case that a circumstance caused you to pass away suddenly?

Some people meet with their attorneys and write their wills after their children are born or after they lose a parent themselves, but when should you start preparing for the inevitable end of life for your children and spouses sake? Well if you join the military they have you write your will in bootcamp, which for most people is at the age of 18 and then have the option to edit their will as things change. Most people don’t just choose to write wills at such a young age, but as more assets are accumulated a will becomes more important in the decisions of how to divide the deceased assets among family and friends. In the end whether someone chooses to write a will at all is completely up to each individual person.

Another option many people choose in their twenties and early thirties are whole life insurance quotes. Whole life insurance is a type of permanent life insurance product that insures the person for the duration of their life as long as premiums are paid on time. That means whole life insurance rates pay a benefit upon the death of the insured and also accumulates a cash value before their death.

You can go online and look up many different whole life insurance rates and ask an independent agent for whole life insurance quotes to compare companies and decide which company has the best whole life insurance rates for you and your loved ones needs.

Compared to other forms of permanent coverage, a whole life policy has three defining characteristics:

  • The level premium remains the same for life.
  • The death benefit is guaranteed as long as the guaranteed premiums are paid.
  • The policy includes guaranteed cash value that grows at a guaranteed rate.

Finding an independent agent you trust to show you the best whole life insurance rates and side by side whole life insurance quotes is extremely important if you wish to guarantee you receive the best coverage. Whole life insurance quotes range from company to company and are not all the same.

By thirty I assume just about everyone has taken out some kind of loan whether for a vehicle, college tuition, or your first home, but what if I told you you could also borrow against yourself. You can borrow against your whole life policy and many high profile people have done so. Walt Disney borrowed against his policy in order to obtain the loan to build Disneyland way back in the day. While we all hope we’d never have to borrow against our own policies it’s still nice to know we can, unlike term life insurance policies which don’t offer a cash value. And knowing you can protect your loved ones with a death benefit and also be your own bank can make the decision to obtain a whole life policy seem pretty simple. Regardless of whether you keep a fire extinguisher at home or batteries in your smoke detectors. Even if you’ve taught your children not to talk to strangers, you still have planning you need to do on your own to ensure your death is not the reason your children and any other loved ones struggle. Whole life insurance is a part of my plan. Will it be a part of yours as well? I sure hope so.