Life Insurance Information
Louisiana Life Insurance
Serving Baton Rouge, New Orleans and surrounding areas since 1929
How Much Life Insurance Is Enough?
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.
How Much Life Insurance Is Right For You In Louisiana?
At the McInnis Insurance Services, Inc., we understand the life insurance needs of our customers. The necessity of life insurance depends on your own personal and financial needs. At McInnis Insurance Services, Inc. we assist and help you determine the type and amount of life insurance that is appropriate for you and your family. Generally, you should 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
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.
- The growth of a cash-value policy is tax-deferred — you do not pay taxes on the cash value accumulation until you withdraw funds from the policy. More about tax benefits.
- Life insurance can be used to cover funeral expenses and pay estate taxes — consult your tax advisor agent for more information.
The right coverage for you is unique – talk to us today at McInnis Insurance Services, Inc. and find out how to protect your family and your future with the right life insurance.
There are many kinds of life insurance, but they generally fall into two categories: term insurance and permanent insurance.
is designed to meet temporary needs. It provides protection for a specific period of time (the "term") and generally pays a benefit only if you die during the term. This type of insurance often makes sense when you have a need for coverage that will disappear at a specific point in time. For instance, you may decide that you only need coverage until your children graduate from college or a particular debt is paid off, such as your mortgage.
In contrast, permanent insurance
provides lifelong protection. As long as you pay the premiums, and no loans, withdrawals or surrenders are taken, the full face amount will be paid. Because it is designed to last a lifetime, permanent life insurance accumulates cash value and is priced for you to keep over a long period of time.
It's impossible to say which type of life insurance is better because the kind of coverage that's right for you depends on your unique circumstances and financial goals.
But remember, the best way to figure out the amount and type of life insurance that makes sense for your particular situation is to meet with a qualified and licensed life insurance professional.
Life Insurance Quote Forms
Looking for coverage? Click any of the following links to submit a quote for quick, accurate and affordable rates.
Leaving Life Insurance for Your Child's Future Education
Are There Tax Benefits to Having Life Insurance?
Can Life Insurance Cover Mortgage Payments for Your Loved Ones?