Life insurance: What Is it, How it Works
Life insurance is a way to protect your loved ones financially after you die. Here are some important reasons to get life insurance:
1. Help your loved ones: Life insurance makes sure that your spouse, children, or other family members are financially supported if you die unexpectedly. The money from the insurance can be used to replace lost income, pay for living expenses, pay off debts, pay for education, or keep the family's lifestyle the same.
2. Estate planning: Life insurance can be used to help transfer your assets to your family after you die. It can help pay for estate taxes, debts, or give equal amounts to your heirs. This is especially important if you have a lot of money or a business.
3. Business Continuity: If you own a business, life insurance can help keep the business going after you die. It can pay for business expenses, pay off debts, buy a partner's shares, or help transfer ownership.
4. Pay off debts: Life insurance can be used to pay off any debts you have, like mortgages, personal loans, or credit card debt. This prevents your family from inheriting your debts after you die.
5. Save for retirement: Some types of life insurance, like whole life or universal life insurance, save money over time. This money can be used during your life to supplement your retirement income or help with financial needs.
Finding Life Insurance in 30 second
Life insurance is important to ensure that your loved ones will be taken care of even when you’re not around. But how do you determine how much coverage you need and which type of policy is right for you and your family?
Whole Life
Secure Lifetime Protection with Whole Life Insurance
Whole life insurance is a type of insurance that provides lifelong protection and added benefits. It guarantees a life insurance benefit and helps you prepare for the future so that you can be ready for whatever comes your way. Policyholders of Whole Life insurance can receive dividends. Dividends can help increase the policy's cash value growth, but they are not guaranteed. We offer a variety of products to help you customize a combination of guaranteed death benefits and cash value growth that suits your needs.
Term Life
Get guaranteed protection and prepare for your future.
Term life insurance provides coverage for a set period and much more. Beyond short-term protection for your family, our term insurance helps you and your loved ones achieve financial preparedness for the future. Along with immediate protection, term life insurance offers features like converting to permanent coverage in the future if your life changes. This means it can help you achieve your goals at every stage of life.
Universal Life
Long-term Protection for Your Family
Looking for long-term protection for your family? New York Life offers universal life insurance policies that are flexible and guaranteed to meet your specific needs. Universal life insurance is an efficient way to give your family the long-term insurance protection they deserve. You can maximize your coverage while building cash value.
Small Business
Planning is Important for Your Business
No one knows when their time will come, including business owners. However, it is essential for business owners to plan ahead to avoid leaving their company, employees, and loved ones financially vulnerable. One of the critical steps in planning is obtaining life insurance for business owners. Life insurance for business owners serves as a safety net for the company and the owner's family. It provides financial security, peace of mind, and reassurance to the owner that their business and loved ones are protected in the event of unexpected death.Protect your lifestyle at every stage of your life
We understand that life can be unpredictable. Whether you need protection against unexpected disability or long-term care during retirement, we can help meet your specific needs and help fill coverage gaps. Trust us to help protect your assets and your future.
Individual Disability
Protect your income in case of disability. If you own a business or are advancing in your career, you likely have plans for success. But what if something happens and you can no longer work? It's hard to imagine, but over 25% of people in their 20s today can expect to be out of work for at least a year due to a disabling condition before they reach the normal retirement age.1 That's why it's crucial to have disability insurance for individuals to safeguard your income.
Long Term Care Insurance
How to pay for your care when you can't do it yourself. You're saving for retirement so you can have the life you want. Long-term care coverage is important to help keep lifestyle. Did you know that 70% of people over 65 will need help with everyday activities like getting dressed or going to the doctor? Health insurance usually doesn't cover this care and almost half of people who need long-term care spend over $107,000. It's smart to buy long-term care insurance while you're healthy. If your health changes, you might not be able to get it later.
California Dental Insurance Plan Assistance
To enjoy the benefits of both embedded and supplemental dental insurance for individuals in California, including free preventive and diagnostic dental care and prompt treatment for many dental conditions at low rates, you must get the best dental insurance California has to offer. We can help you purchase a family dental plan that provides adequate coverage for you and other members of the family.
We also offer free guidance to help you choose the most suitable California individual dental insurance and family dental plans. Give us a call now to request a quote and receive answers to all questions related to choosing and purchasing family or individual dental insurance plans in California.
