With Mother’s Day on May 8th, this is the time to celebrate the mom or the soon-to-be mom in your life. When we think of mothers, we think of enduring love, a hard-working multitasker, a disciplinarian, a teacher, and a friend. A great way to show love for your mom or for your spouse is to give them life insurance. Life insurance does not have to be expensive and does not have to be complicated. There are plenty of options out there from term life to whole life to universal life, each with its own unique pros and cons. As an example, a healthy 30-year-old female can get a $1 million, 30-year term life insurance policy for as low as $40 per month or a $500,000 30-year term policy for as low as $25 per month.
Working moms, single moms, caregivers, stay-at-home moms, and even grandmas all have a need for life insurance. Life insurance can help cover the cost of a mortgage, cover the costs of raising children (childcare, college), and everyday expenses such as groceries and utilities. If you are interested in getting life insurance for your mom, for your spouse, or for someone you deeply care for, now is the time to review our options.
The most affordable form of life insurance is term life. It can cost tens of dollars per month depending on your age, health, and death benefit. Term life is for set term periods of 10, 15, 20, 25, or 30 years. Once the term period expires, the death benefit goes away unless you opt to convert the term life into whole life insurance. Whole life insurance is another type of policy but is designed for the rest of your life but at a higher cost for a lower death benefit. Whole life policies offer cash value accumulation, meaning that these plans can both offer an investment vehicle while also a death benefit. Universal life insurance is similar to whole life but can be invested in indexes (e.g. S&P 500) in an indexed universal life or in other investment vehicles.
Finding the right life insurance at an affordable price does not have to be complicated. If you would like to review your life insurance options, please do not hesitate to contact us at 310-909-6135 or email us at info@solidhealthinsurance.com for us to better assist you. We can do a need-based assessment to see what level of life insurance would best meet your unique needs. At Solid Health Insurance Services, our mission is to help our clients find the right health, life, dental, vision, and long-term care insurance which best meets their budget and medical needs.
