Life Insurance in Washington, Oregon, Idaho, and Montana
Life insurance is a contract between an insurance company and a policyholder. If the insured passes away, then the insurance company pays out a sum to designated beneficiaries. The policy may include some exclusions if the insured dies from certain causes, such as war, or suicide. A simple fact is we all have our day, and many sooner than they expect. This is what life insurance is for. To pay for the financial burden this causes.
How much does life insurance cost?
Many clients believe life insurance cost's 3-4 times what it actually costs. This means, that coverage is significantly more affordable than you think.
Another hesitancy about purchasing life insurance is the process.
We offer coverage through carriers that simplify the buying process, and several which do not have a full medical underwriting, or offer accelerated underwriting. This enables you to get coverage affordably, and easily.
How much life insurance is right for you in Washington, Oregon, or Idaho?
From our office in Spokane, WA, Lilac Insurance Group understands the life insurance needs of our customers. We can help you find the right policy for your needs, and your budget. You don’t want to base how much life insurance you need on a guess. The amount of coverage you need may depend on your age, debt, earning potential, how many children you have, and your spouse’s situation such as whether or not they work or are a homemaker.
Use this calculator to determine how much coverage you need.
Lilac Insurance Group is proud to partner with Bestow Life. Bestow offers rapid issue, no medical life insurance. Click to learn more.
It's time to consider life insurance if:
- You have a spouse
- You have dependent children
- You have an aging parent or a physically challenged relative who depends on you for support
- Your retirement savings are not enough to insure your spouse’s future against a rising cost of living
- You have a sizable estate
- You own a business
Coverage is critical for spouses or couples with children. Imagine the burden and sudden expense of only one parent being able to care for children?
Life insurance is a crucial step in planning for your future. Not only can life insurance provide assurance for your family if you are no longer around, there are life insurance policies that offer benefits while you are living.
Additional benefits of life insurance other than providing for your loved ones, in case something happens to you include:
- The cash value earned and borrowed from a permanent life insurance policy can be used to help with large expenses, such as a college education or down payment on a home.
- Life insurance death benefits (the payout) is tax-free, which matters when it's time for the carrier to cut a check.
- The growth of a cash-value, permanent policy is tax-deferred — you do not pay taxes on the cash value accumulation until you withdraw funds from the policy.
- You can also structure payments from the policy in a way that disbursements are also tax free.
- Many whole life policies put growth on the fast track with annual dividends.
- Life insurance can be used to cover funeral expenses and pay estate taxes — consult your tax advisor for more information.
Permanent life insurance policies, such as Whole-Life plans are an incredible way to grow your cash value, and become your own bank.
Tax savvy consumers and advisors use life insurance all the time to protect financial health, and strengthen your personal balance sheet.
Permanent policies can be used as a vessel to shield your assets from taxes, and provide a reliable, secure source of funding for large expenses such as college tuition, home repairs, or supplemental retirement income.
Many policies offer a guaranteed cash value growth, or can be pegged to the stock market to accelerating principal growth.
We offer policies through quality, mutual life insurance companies such as Mutual of Omaha or Northwestern Mutual. These carriers have exceptional financial strength, and offer competitive rates and cash accumulation benefits. Consult your accountant for tax questions.
Do your own research into a carrier thats a good fit for you, and where life insurance fits into your budget.
Sadly, many people consider life insurance when it's too late. Either they are at an age where the cost of coverage is too burdensome, or they have developed a health issue which makes finding quality overage difficult. We still have options for these situations, however to get the best rate and the best coverage, shop it early. You'll sleep better at night, and be confident in knowing the life you've built for your family will still be there if the unthinkable happens.
Our agency services Washington, Oregon, Idaho, and Montana. Your coverage need is unique – reach out to us to find out how to protect your family and your future with the right life insurance.
The sales pitch is over, call, text, or email us for a quote!