What do life insurance and love have to do with each other? More than you'd think. You buy life insurance because you love someone so much you want them to be taken care of, no matter what. But life insurance doesn't just help them. It gives you real peace of mind.
A Blanket of Security, Guaranteed
You want the best for your family. But what if your spouse or partner couldn’t afford to pay the household bills and your children had to leave the school and friends they love? Would you have enough savings and investments to ensure they have the same standard of living, education and opportunities even if you weren’t around? With life insurance, you're not just insuring your life, you're helping protect theirs.
The advantage of life insurance is the benefit is guaranteed when your family needs it most. Buying life insurance early in your career allows you to protect your family finances while you are still building wealth. Then later, if you find you don’t need as much coverage, there are various ways to adjust your coverage to meet your needs.
One Strategy for Protecting your Family
Laddering is one strategy used by financial advisors to provide the right amount of coverage at the right time. The premise is that you would have several policies in place with different expiration dates to meet your needs at specific stages of life.
For instance, you could purchase a 10-year, 20-year and 30-year policy at the same time. A 10-year policy would cover the early years of your career, and be timed to expire when your educational loans are paid off. A 20-year term would protect your peak earning years when your household expenses and financial obligations are the highest. After your mortgage is paid off and your children have graduated from college, you’ll likely need less insurance. A 30-year policy would protect your standard of living in retirement. If this concept appeals to you, a TMA Insurance Trust advisor can help you develop a laddering strategy tailored to your family’s unique needs.
Locking in the Protection
Life insurance may be more affordable than you think. Level premium term life insurance allows you to lock in an affordable rate for the entire term of the policy. Even as you get older and your health changes, your premiums won't go up and your benefits won't go down. The cost of having $1,000,000 of financial security could be as little as $500 a year for a 20-year level premium term life policy (based on rate for a 37-year old male, nonsmoker).
Rest easy. Applying is Simple.
A TMA Insurance Trust advisor will do the research and paperwork for you, providing multiple quotes from highly-rated insurance companies such as Banner, Voya Financial, MetLife and others. And because TMA Insurance Trust advisors don’t work on commission, there is never any obligation or sales pressure.
Protecting what’s precious to you doesn’t have to be complicated or time consuming. Whether you’re buying your first policy or updating your current coverage to reflect what’s new in your life, let us help you make the right decision for the people you love.
For over 60 years, TMA Insurance Trust advisors have been serving Texas physicians, their families and staff. TMA Insurance Trust prides itself on offering unbiased information and strategies to members, along with exclusive group rates on a range of the highest-rated plans in the industry.