Idaho Falls Life Insurance
If you ask most people about their
current assets, a typical response would include a home, investments, cars and
recreational vehicles. While all these have value, the largest
asset is actually YOU -- your ability to create value in the marketplace
and be paid for that added value.
Do I really need life insurance?
Life will never be free from uncertainty. But when uncertainty is
minimized, life can be maximized. No matter what stage of life you are in, if
someone depends on you financially, you should consider reducing their
uncertainty by protecting them with life insurance. In the event of a tragedy,
life insurance proceeds can:
- Help pay the bills and meet
ongoing living expenses
- Pay off outstanding debt,
including credit cards and your mortgage
- Finance future needs (like your
children's education)
- Protect a spouse's retirement
plans
- Attract and retain key
employees
Our Idaho Falls life insurance programs help protect what matters most. They are
designed to be competitive over the long haul. To answer the question of
whether you need life insurance, you need to understand the benefits and decide
if the peace of mind and financial security makes sense to you.
Provide Protection & More
Our Idaho Falls life insurance products include index universal life,
universal life, whole life, term life and variable universal life
insurance. Each product type has its own advantages and disadvantages. They all
protect the people you care about the most. However, some can do more, such as
build cash value or earn dividends and can become the basis for a solid
financial plan.
While you can learn more about our products on this website, this
information is no substitute for the guidance and assistance you'll get by
meeting with us. So, if you're serious about protecting your future, contact
Eagle Cap Insurance and meet with us to discuss your needs and explain the
options that are available.
How much life insurance should I own?
Most of the so-called “experts” from
TV or radio will say that if you are the breadwinner you should own 8 to 10
times your income. This is the first big mistake. If life insurance is about
indemnification of loss then what was lost.
At death the family lost the income
of the breadwinner. Shouldn’t the answer be -- We would like to replace
that income of the deceased? Now the question should be -- How much life insurance
would I need to replace $100,000 of annual income and the answer would be
$2,000,000. Why would an insurance company insure you for $2,000,000 and not $5,000,000?
The answer comes back to the
definition of insurance being the indemnification (compensation) of the lost
item -- in this case the loss of the breadwinner’s income for his family.
If you received the $2,000,000 death benefit and we used the asset to create a
monthly income at a 5% rate of return we would be able to replace the $100,000
salary every year into the future. In other words the reason the life insurance
company would only insure you for $2,000,000 is that’s your economic life value
based on your $100,000 salary and being between the ages of 25 and 40.
If we used the experts from radio or
TV at 10 times your earnings you would have $1,000,000 at 5% or $50,000 per
year. So the question becomes -- If you were to pass on, what would you want to
leave your family $50,000 or $100,000 in income stream?
Contact us at Eagle Cap Insurance
and setup an appointment to learn more about Economic Life Value and how to use
life insurance as an asset not just a cost!
Types of Life Insurance
Here are the three types of life insurance to consider:
