Andalusia, Alabama
1731 E 3 Notch St.
Andalusia, AL 36420
(334) 222-1990

Life Insurance: A Key Part of Financial Planning at Any Age March 20, 2017

Andalusia, Covington
Life Insurance: A Key Part of Financial Planning at Any Age  , Andalusia, Alabama

Life insurance can be a tricky and confusing subject. People of certain ages feel they have no use for it, while others don't want to think about planning for the future.

Davis & Associates employs the leading life insurance agents in Andalusia, AL. They specialize in helping clients throughout Covington County design the right life, auto, business, and home insurance policies to fit their budget and lifestyle.

Here’s why they say a life insurance policy should be an important part of your financial planning, no matter how old you are:

  • life insuranceYoung With No Dependents: Many young people who have no dependents are uninterested in purchasing life insurance. They see it as something to think about later. But their youth makes it an ideal time to purchase coverage since they can buy it for nearly nothing. Additionally, whole life insurance features an investment component that compounds interest over time and increases its value dramatically. Wise investors know it's not how much you invest, but how long you let it grow.
  • Middle-Aged With a Family or Mortgage: For people with dependents, life insurance is crucial. If your family depends on your income, ask yourself what would happen if you were no longer there to provide for them. A life insurance death benefit could pay off your mortgage and support your family until they can support themselves.
  • Near Retirement With No Kids at Home: Even retirees with no mortgage and no dependents should consider life insurance. A death benefit could pay for outstanding consumer debt or help older children pay for college. If your spouse has special needs or requires medical care, life insurance benefits can help support payment of those costs. If nothing else, a small policy can defray funeral and burial expenses.

Davis & Associates can help you crunch the numbers and determine the amount of life insurance coverage you need. Visit the agency's website for contact details, or call (334) 222-1990 to speak with a friendly expert about your needs.

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