Do you think life insurance is only for working adults with dependents? While there are some differences, policies for seniors and children can be an important financial maneuver.
Policies for Senior Citizens
The primary purpose of a life insurance policy is to protect the financial assets you’ve worked so hard to accumulate and ensure that your dependents are able to enjoy them after you’re gone. Even after the age of 50, buying life insurance is an intelligent move for many reasons.
- Insurance policies can help loved ones pay for your burial expenses.
- A valid policy is a tax-free way to transfer some of your wealth to dependents.
- A business life insurance plan will protect your business partners.
Lebherz Insurance can help seniors in the Frederick, MD area find a life insurance policy that will protect their property far into their golden years.
Policies for Children
It may seem slightly morbid to buy life insurance for children. However, young people can benefit from an insurance policy throughout their lives.
- Parents can buy a whole life insurance policy for their children that builds cash value over time. The child can access this cash when they are older to help pay for education or other expenses.
- While the odds of a child dying prematurely are notably slim, it can happen. A life insurance policy pays for burial, medical expenses, counseling, and time off from work for grieving parents.
- If a child contracts an illness, disease, or disability, they may not qualify for most life insurance policies. Buying a policy while they’re still young guarantees that they will always have access.
Lebherz Insurance offers a variety of life insurance policies for every stage of life. Come visit our specialists in the Frederick, MD area to get started protecting what you value most.