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I just started my own business – do I need life insurance?

Congratulations! You’ve just started your own business and are about to embark on the adventure of business ownership.

As a business owner, you know you will need commercial insurance, but you find yourself wondering: Do I need life insurance, too? Our Valor Insurance in Pennsylvania advisors have the answers and are here to help.

Do business owners need life insurance?

It is an excellent idea for business owners to consider life insurance as part of their insurance plan. Company-owned life insurance can provide crucial protection for a business in the case of the unexpected death of an owner, partner, or employee, which has the potential to disrupt and cause financial issues for the business. You have worked hard on and planned carefully for your business and want to set it up for the best possible success.

If you have started your business with a partner, life insurance can provide a bridge while the surviving partner determines whether to continue the business. In that scenario, the death benefit could be used to replace lost revenue and pay the costs to keep the business open. Without it, the surviving partner may face difficult decisions, such as borrowing money or selling some of the company’s assets to get through the rough patch.

Similarly, life insurance can provide for family members who rely on the income from the business during this period of loss. An unexpected death is a sudden transition, made even harsher if financial hardship enters the picture. Life insurance can protect your family’s quality of life as they adjust and move forward.

Contact our experts at Valor Insurance for help finding the right policy for you and your business in Colorado, Tennessee, Pennsylvania, or Georgia.

Here’s Why Newly Weds Should Get Life Insurance

Have you recently been married? Congrats! Marriage is a crucial milestone for many. Married couples will support each other throughout life and having a partner who can help you shoulder various burdens can go a long way. It’s important to protect one another, and as such, life insurance is vital. If you’re looking for an insurance agency serving Easton, PA, contact Valor Insurance to discuss life insurance options.

The Basics of Life Insurance For Married Couples

Life insurance may provide payments if a spouse dies. What specifically is covered can vary from plan to plan, so it’s important to work with an insurance agent. Insurance policies can be hard to comprehend at times, but insurance agents can use their professional experience to break things down for you.

Unfortunately, death is a fact of life. While many people will live well into their seventies, some folks die young, killed in car accidents, or succumb to serious diseases. It’s tempting to avoid thinking about that, but when you get married, you’ll want to make sure that your love is protected in the event of a tragedy.

When someone dies, households often lose a source of income. Burial costs can get quite expensive as well. If the couple has children, the surviving spouse may have to shoulder the burden of childcare all on their own. Unfortunately, the surviving family members could quickly find themselves in dire financial straits.

Schedule A Consultation Today

Life insurance may provide your spouse and other family members with considerable financial security. This can reduce stress for the family, which can make it easier to grieve and plan the next steps. Speaking of planning, if you’re planning to take out life insurance and are in need of an insurance company that serves Easton, PA and other areas nearby, contact Valor Insurance.

Can I buy life insurance as a gift for my young relative?

Life insurance is one of the best gifts you can give a loved one. Unlike most other gifts, life insurance is something you don’t think about until you need it. But when you do need it, life insurance provides benefits at a time when those benefits are needed most. At Valor Insurance, we can help you explore life insurance options for all your family members in Easton, PA.

The most common reason people purchase life insurance is for the death benefits. Depending on the kind of insurance you buy, there may also be a cash value component that the policyholder can take advantage of.

If you purchase life insurance for someone, there are several advantages: 

  1. There are many reasons people may put off getting life insurance. Sometimes they feel they cannot afford it at the time, or they might feel unsure about which policy is best. Giving a policy as a gift makes sure they have that financial security anyway.
  2. Younger policyholders start out with smaller premiums. You can lock in a much lower price if you gift a loved one a life insurance policy at a very young age.
  3. As people get older, they may discover or develop health problems that make them hard to insure. Sometimes a medical exam is required before a policy is issued. If someone already has a policy, they no longer need to worry about qualifying for a policy.
  4. Having a sense of security as you go through life is important. Your loved one will know that this protection came from you.

Reach Out To Us

If you are in Easton, PA and want to learn how to protect your family members, please call Valor Insurance today so we can explain all your options. 

Life Insurance Gives You Protection and Peace of Mind

If you want to provide protection for the future of your loved ones, a great way to do that is to get a life insurance policy. If you’re in the Easton, PA area and looking for a quality policy, Valor Insurance can help. We understand the importance of life insurance and how we can help you get the coverage you and your family are looking for.

Benefits of Life Insurance

You don’t have to worry about what would happen to your loved ones when you have a strong policy to protect their interests if something should happen to you. If you’re not sure where to start, though, or what kind of policy to choose, you’re not alone. There are different types of life insurance options, and you want to choose the one that’s right for your situation.

Sometimes that’s a term policy, but it might also be a whole life policy. Your agent can help you choose between the options you have, based on the kind of coverage and limits you’re looking for. Then you’ll have a lot more peace of mind and know that you have the security to keep your family safe even if you’re not physically here.

If you’re single and don’t have children yet, having a life insurance policy can still be a great idea to leave something to other family members, friends, or a significant other. Valor Insurance serves the Easton, PA area, and is here to help you with your life insurance policy needs.

Give Us A Call

Reach out to us today, and let’s discuss the policy you’re interested in and what it would mean for your family. Then you can decide if that’s the best option for you or if you’d rather consider a different option instead. Life insurance is a personal choice, and we want to make sure you have the right policy for you and your family.

Why Life Insurance is Still Necessary for Young People

When you think of life insurance, you’ll likely think of it as something that you should worry about when you’re older or retired.  However, if you’re a young person, it’s still important to consider life insurance.  Life insurance is a plan that could benefit anyone, no matter what age you are.  Our advisors at Valor Insurance, serving the greater Easton, PA community, could help you search for a plan that’ll meet your needs.

Life Insurance is Vital if You Have Dependents

Even if you’re still in your 20s or 30s, obtaining life insurance will financially protect your dependents such as children or other people who depend on you financially.  You never know what could unexpectedly happen to you in the future.  By purchasing life insurance, you’re preparing your loved ones financially in the event you lose your life due to an accident or another unexpected occurrence.

Lock in Lower Premiums

Another reason many young people must obtain life insurance is that they could lock in an inexpensive premium.  The younger you are, the most likely you’ll pay a lower premium than an older person with health issues.  According to the Life Insurance Market and Research Association (LIMRA), most Millennials (between the ages of 24 and 41 years old) find life insurance policies unaffordable.  So if you’re a healthy young adult, you could get a term life insurance policy at a cheap rate.

Cash Value Earnings Could Pay off Debt

What if you’re a college graduate with some college debt?  Some life insurance plans, such as whole life policies, have cash value earnings that could help you pay off those debts.  A recent study shows that nearly 72% of U.S. millennials have some form of mortgage debt, with the average millennial owing $117,000.

Contact Our Office Today

Life insurance plans are beneficial for anyone at any age.  If you’re a young person without one, now’s not the time to delay getting one.  Contact our advisors at Valor Insurance in Easton, PA, and we can help find a life insurance plan that fits your needs.     

How Whole Life Insurance Protects Your Family

If you are looking for whole life insurance in the greater Easton, PA community, Valor Insurance is ready to provide answers to all your questions.

What is Whole Life Insurance?

Whole Life insurance is both a permanent life insurance policy and an investment account. Like a guaranteed universal life insurance policy, this will provide an inheritance or help your beneficiaries cover costs after your death.

How Does Whole Life Add to Your Investments?

In a whole life insurance policy, a portion of your premiums goes towards the cash value of the policy. Over time, that cash value grows and can payout dividends. Dividends can apply towards:

  • Paying off premiums.
  • Acquiring paid-up insurance additions. These add to the cash value and eventual death benefit of your policy.
  • Pocketing bonus money.

The cash value of your whole life insurance is tax-deferred, like other retirement accounts. Your contributions to it, however, are not tax deductible.

How Can You Access Investment Gains on a Whole Life Policy?

Cash value is not part of the death benefit enjoyed by your beneficiaries. Rather, you can use it in a few ways.

A policy loan, cash dividends, withdrawal, policy surrender, and selling your policy all give you access to the cash value. Each of these methods comes with different risks and benefits. The bottom line is that this type of insurance enhances your family’s investments and adds to the pool of accessible cash in the event of an emergency.

Who Should Consider Whole Life Insurance

Not everyone is well-suited to whole life insurance. It’s not a good option for those who are older or those who have a weak investment portfolio. Whole Life insurance is a long-term investment option that begins to pay out after 15-20 years. The best candidate is younger, earning good pay, with a diverse investment portfolio, and wants to pass on a strong inheritance.

Contact Us Today

If you are looking for coverage in the greater Easton, PA community, call Valor Insurance today and our knowledgeable staff will guide you through everything you need to make the right choices for your family.

Types of Life Insurance

There are two primary types of life insurance, and it’s important to understand each of them when it’s time to choose your life insurance policy. Both term life and whole life insurance policies have their own benefits and drawbacks. When you know how each of them works, it will be easier to make the choice that is right for you. When you’re ready to find out more about life insurance, give us a call at Valor Insurance in Easton, PA to find out more. 

Types of Life Insurance

Whole Life Insurance

Whole life insurance is a popular type of life insurance for several reasons. It is a type of insurance that you can keep for your whole life, hence the name. Your life insurance policy will stay in effect for as long as you keep paying for it, no matter how old you get. This is a good way to ensure that you will always have life insurance. This type of policy costs more, but it has a surprising advantage. When you pay your insurance premiums, they are invested by the insurance company, and a small portion of those profits become a cash value for your policy. This is money that you can borrow against if you have a financial emergency and need quick access to money. 

Term Life Insurance

A term life insurance is also what it sounds like- it’s only good for the term of the contract, which may be 20 years or more. When you have this insurance, it costs less than whole life, but it does expire at the end of the term. When that happens, you have to apply for a new policy. 

Get Life Insurance

If you don’t have a life insurance policy, it’s not smart to wait. You need to have this policy in place right away. Call us at Valor Insurance in Easton, PA.