William Penn Life, 2013 (48. évfolyam, 1-12. szám)
2013-02-01 / 2. szám
When is it a good tii to update your SINCE WE JUST STARTED 2013, now is the perfect time to have your William Penn Association sales representative review all of your family's life insurance policies. Life is never constant, and as we go through the various stages of life, it is important to constantly review your insurance coverage. Your life may have changed significantly since you first purchased your policy. You should always review your life insurance policy when you make a major purchase. Transactions considered to be major purchases would include: • purchasing a new home, • refinancing your home, • paying for a college education, • buying property for investment purposes, • purchasing a new vehicle, and • any purchase for which you borrow money. All of these require a substantial investment of funds, and they all should be covered in your death benefit to ensure that your family is not burdened with this financial commitment if you die. You should also review your life insurance policy or policies when your life has seen a major change. If you purchased your life insurance policy when you were single, you should review your policy when you get married and also change the beneficiary on your policy. A life-changing event is any event that will significantly alter your life, such as the birth of a child or grandchild, a job promotion or pay raise, a divorce or the death of a family member. During this review, you want to ensure that your coverage provides suitable protection at a competitive rate. When determining if you have suitable protection, you will need to consider if you want to purchase additional coverage, either term or permanent life insurance. Term life insurance and permanent life insurance are the two basic types of life insurance. Term life insurance will cover you for a specific period of time and is usually inexpensive. Permanent life insurance (whole life) covers you at a higher cost, but you have it for your entire life. Keep in mind that, even if you have not had any major changes in your life, it is still a good idea and practice to review all of your life insurance policies with your WPA agent on a yearly basis. □ Moneywise with Jeff DeSantes If you do not have a WPA agent, please call the Home Office at I -800-848-7366, ext. 120, and we can assist you in finding an agent who will serve you and your family by offering: • A Review of Your Needs • Life Insurance Protection • Tax-Deferred Annuities • • Juvenile Insurance Plans • Special Fraternal Benefits • 4 0 February 2013 ° William Penn Life Illustration: © Can Stock Photo Inc./nasirll64
