In life, nothing can be taken for granted. That includes life, itself. It can come to an end with no foreseen event, leaving the immediate family of the deceased with an unsure financial. Outstanding debts can be levied against an estate, consuming entire inheritances. The Kerndt Brothers Insurance Agency can help anyone living in Iowa, Wisconsin, or Minnesota to make sure that their loved ones don’t have to struggle with the financial loss on top of the emotional loss.
What is Life Insurance?
Life insurance is a policy that provides financial compensation to the surviving loved ones in the event that someone passes away. This money is meant to function as an offset for the lack of income and other services that the deceased was providing, as well as to cover the final expenses, estate taxes, and outstanding debts that can easily total tens of thousands of dollars.
Life insurance can also be used as an inheritance for your loved ones. Policies can even be written to as donations to a charitable organization or to a non-profit. Life Insurance is a common part of a buy-sell agreement for a farm or business and is used to fund a trust for the care of someone or something (i.e. minor children or a church).
Do I Need Life Insurance? How Much?
If your immediate family depends on your continued income and would not be able to continue your current lifestyle, including living in the same house, life insurance can make all the difference in your financial future. Life insurance can be flexible in the amounts of coverage obtained, ranging from thousands to millions of dollars.
Life insurance is a matter of best-reviewed, case-by-case. Contact the Kerndt Brothers Insurance Agency to let our professionals help create the right plan to ensure your needs and goals for your loved ones.