While no one likes discussing life insurance, it’s a topic that must be addressed and planned for. Most people think that you should be around 40 or 50 to start thinking about purchasing a life insurance policy, but is this true? At what age should you start considering buying life insurance as a New Windsor, NY resident (or anywhere else)?

It’s Never Too Soon

You’re never too young to start thinking about purchasing life insurance. Some parents even have life insurance for their children, like a "grow-up" plan. These plans mature with the child but can also be used if the unfortunate happens early. So, if you’re young and just starting in the workforce, purchasing a good life insurance policy is not a bad idea. Many companies will even provide up to a certain amount of life insurance while allowing you to purchase more. 

Rates Are Lowest For Young People

There are advantages to purchasing a life insurance policy while you’re young. One definite plus is that rates are the lowest for young people, so the sooner you obtain a policy, the less you’ll pay. Some prices are locked in, so rates won’t increase with age, but this depends on the company and the type of life insurance. 

No one can ever predict when they might die. An unexpected illness or accident could occur at any time, which is why there is no specific age at which a person should purchase life insurance. Call us at Bryan Insurance Agency LLC if you’re looking for a new insurance agency. We cover the New Windsor, NY area in addition to others. You won’t be disappointed by contacting us because, at Bryan Insurance Agency LLC, we focus on providing the best customer service as well as supreme coverage.

Life insurance is one of the best ways to have peace of mind, knowing that your loved ones will be protected if you pass away. If you’re in or near the New Windsor, NY area, Bryan Insurance Agency LLC can help you find the right policy and coverage level for your needs. Here’s what to consider when choosing this type of insurance.

What You Need to Know About Life Insurance

First, there’s more than one kind of life policy. Term life is designed to provide coverage for a set period, after which it will expire. The whole life doesn’t expire, but it will have more requirements to start the policy. You may have to undergo medical exams and have ongoing requirements to keep the policy in force, especially past a certain age.

Second, a whole life policy will cost more than a term life policy in most cases, and you may be able to use the accumulated value of a whole life policy in the future for medical care or other expenses, even while you’re still alive. A term policy doesn’t have any of those options and will need to be replaced with a different policy when the term expires.

Lastly, the level of coverage you choose should be based on what your loved ones will need if you pass away, based on your current family dynamic, age, and other factors. As you grow older, you may want to adjust your policy. This is also true of any significant life events you experience, such as getting married or having a child.

If you’re in the New Windsor, NY area and interested in talking to a trusted professional about life insurance, contact us at Bryan Insurance Agency LLC today. We’re here to help you find the right policy and more peace of mind.

We know that investing is an important part of financial planning, but what qualifies as an investment? At Bryan Insurance Agency LLC, serving New Windsor, NY, and the surrounding areas, we want to help clients understand how insurance works into their investment plans. Keep reading to learn more about life insurance as an investment. 

Is Life Insurance an Investment?

Yes, life insurance can be considered a type of investment. Life insurance is different from other investments because this is not an investment you will benefit from directly. This is an investment that your beneficiary will benefit from in the event of your death. This is the type of investment you make on behalf of others. 

How Does Life Insurance Work?

When you purchase a life insurance policy, you will set it for a specific amount. This benefit amount is the amount of money that will be paid to your beneficiaries in the event of your death. You will pay a monthly premium for this insurance policy each month. 

Your beneficiary will file the benefit claim in the event of your death. The insurance company will then disperse the benefit amount to them. 

How Much Life Insurance Should I Purchase?

This is a very personal question, and the answer is based on many different factors. The easiest way to determine how much life insurance to purchase is to sit down with an insurance rep and discuss the specific details of your financial situation and your goals for your family. 

If you want to learn more about life insurance, please get in touch with us at Bryan Insurance Agency LLC, serving New Windsor, NY, and the surrounding areas. We will happily answer your questions and find the right products for you. 

Priscilla Presley recently made headlines when it was announced that she was contesting her daughter, Lisa Marie Presley’s, life insurance beneficiary and the trust set up for her grandchild’s inheritance. This has left many people wondering if someone can dispute life insurance beneficiaries and how you can work to prevent that from happening to your loved ones once you pass. Read on as Bryan Insurance Agency LLC, helping New Windsor, NY residents with their life insurance needs, helps to answer this question. 

Can Someone Dispute Life Insurance Beneficiaries?

While it is rare, family members can dispute life insurance beneficiaries. This most commonly happens when someone listed as a beneficiary has passed away, if a new child was not added to the life insurance policy, or if an ex-spouse is still listed as a beneficiary. 

How Can You Minimize the Chances of Disputing Your Life Insurance Beneficiaries? 

The best way to minimize the chances of anyone disputing your life insurance beneficiaries is to ensure you keep your beneficiaries up to date. As a general rule of thumb, you should review your beneficiary information every year. If your life has changed and you wish to add or remove beneficiaries, always obtain a notarized document stating your wishes. Additionally, prepare a will that aligns with the life insurance policy so there are no doubts about your final wishes. 

A life insurance policy can help provide your loved ones with money to pay for your final expenses once you pass away. Here at Bryan Insurance Agency LLC, serving the greater New Windsor, NY region, our team would love to help you determine how much life insurance you need and help ensure that no one can dispute or contest your beneficiaries. Contact us today to schedule an appointment with one of our insurance agents. 

While it may not be the first thing on your mind when you start a small business in New Windsor, NY, protecting your professional investment in the event of your untimely death should be a top priority. Life insurance can ensure your business can continue operating if something happens to you. Here’s what you need to know about how life insurance from Bryan Insurance Agency LLC can provide security for your small business.

You are providing a financial buffer while your business adjusts to your absence.

Suppose you list your business as a beneficiary on your life insurance policy. In that case, the death benefit will be paid to your company if you die. As the business owner, your life insurance policy can also reduce the tax your company will pay on the death of a founder or key individual. This financial compensation can help keep your business afloat after you die.

You are preparing your business for succession.

A life insurance policy for a business owner can help keep the business running in the event of the owner’s death. The beneficiary can use the death benefit to pay off debts, support the family, or keep the business running—whatever the policyholder wishes. This can be a crucial financial lifeline for a company during the transition.

On choosing a business life insurance policy.

A key person life insurance policy is a life insurance policy that a business takes out on its most valuable employee or employees. On the other hand, a cross-purchase agreement is an agreement between business owners to collectively purchase the interest of any owner upon death. Both contracts have advantages and disadvantages, and carefully consider which is right for your business.

Bryan Insurance Agency LLC is a life insurance company based in New Windsor, NY. We offer a variety of life insurance products to meet your needs. Contact us today to learn more about our products and services.

Life insurance can make life much easier for those you love if something happens to you and you are not there to provide for them. We are independent insurance agents at Bryan Insurance Agency LLC in New Windsor, NY, giving us access to more choices to help find the perfect policy for you at a price you can live with. 

Why may a life insurance policy refuse to pay the death benefit?

Most policies will pay for accidental death or natural causes with proof of death. If your policy is less than two years old, more questions may be asked, and the application may be looked at more closely. If any misrepresentation was made in the application, that could result in a refusal to pay. Also, if the death resulted from suicide, most policies will not pay if it occurs in the first two years. 

Can I extend my term policy?

In many cases, you can, but you will not be eligible for the same rate currently. You may receive that information when you take out your policy, but it is worth discussing with your agent if you think it is possible. 

Do I have to choose my spouse as the beneficiary?

Your choice of beneficiary can be anyone you choose. Keep in mind that children will not be able to collect the benefit until they are of legal age in the state where they live. 

Is it ever too late to buy life insurance?

As long as someone depends on you, probably not. Some people use their life insurance to pay for final expenses, which removes the burden on their loved ones. 

Contact Bryan Insurance Agency LLC in New Windsor, NY when you are ready to discuss the benefits of life insurance. 

Different factors can affect the final cost of your life insurance policy, including your health, age, and the preferred coverage amount. You may also want to consider switching to a policy with a shorter term if you are no longer working or disabled and still want coverage. For expert advice in New Windsor, NY, call Bryan Insurance Agency LLC.

Factors Affecting the Life Insurance Premium 

Life insurance costs vary from one person to another based on your health profile, the amount of coverage you select, and the length of time for which you purchase the policy. Even if two people select the same amount of insurance, the longer the time, the higher the cost. 

Your health profile, which determines your rate class, is essential in determining a policy’s price. Another important consideration is the policy duration. The greater the rate, the longer the duration. The more protection you choose, the higher the rate. 

The coverage amount, the policy’s length, level of risk, and other factors all come into play when determining the insurance premium. The cost of a particular policy will also vary depending on the particular insurer. 

Consumers can shop around and compare various policies and providers to find the best price on life insurance. Below are some of the factors that will impact the premium cost for your life insurance: 

• Age 
• Gender
• Health History
• Family Health History
• Smoking
• Hobbies 
• Occupation 
• The Policy 

Final Words 

Your rate is determined by the factors mentioned above. The lower the amount you anticipate getting, the closer you are to retirement. Your rate will undoubtedly be greater if you have a pre-existing disease, such as diabetes. 

You can also expect a lower rate if you purchase a smaller amount of coverage. For expert help, contact the Bryan Insurance Agency LLC team in New Windsor, NY.

If you are thinking of starting a family in the near future, let Bryan Insurance Agency LLC help. We are proud to serve the insurance needs of our friends and neighbors in the New Windsor, NY community. We understand how important financial stability is, especially for young families. Let us help you find the protection that’s right for your needs.

Protect your family with life insurance

When you are a parent of young children, you can spend time worrying about how their futures would unfold if something should happen to you or your spouse. Having a robust life insurance policy in place is one way to lessen those fears. When you have the protection you need, you can focus on the here and now and worry less about the future.

In the event that the main-earning spouse dies, a life insurance policy can provide the stability that the remaining family members will need more than ever. Two of the main benefits of having the right policy is that the funds can help your family remain in your home and not have to move. When children are dealing with the death of a parent, having to move and change schools can make an already heartbreaking situation even worse. Life insurance can help you plan for the worst-case scenario while keeping your family focused on the present.

We are here to help you

The entire team at Bryan Insurance Agency LLC is dedicated to meeting the insurance needs of the New Windsor, NY community. If you would like to learn more about the life insurance policy options that are available in our area, call or stop by our office today.

Whether you’re young or old, life insurance is important to think about at every stage of life. While no one enjoys thinking about when they might pass, if something horrible would happen to you today, your loved ones could be in for a lot of trouble. Life insurance is not something you get for yourself, but you get for your loved ones to give them the option to mourn without additional financial worries.

As life insurance is a difficult topic, our agents are trained to go through life insurance options with you at your pace. You can contact Bryan Insurance Agency LLC in New Windsor, NY to go over life insurance quotes.

Funeral Costs and Debt

Depending on where you live and what you want, funeral costs can cost thousands, in many cases costing over 10 thousand dollars. Your loved ones will have to find a way to pay for this, and life insurance usually covers these costs in full.

If you have any debt, it won’t be automatically paid off when you die. You can ensure your debt under life insurance so that your loved ones don’t inherit it from you, and can pay it off.

Payment Plans

Did you know that the cheaper you consider life insurance, the cheaper the payments are? Getting life insurance when you are older means the insurance needs to be paid for a shorter period of time, so the earlier you consider your life insurance options, the better.
Bryan Insurance Agency LLC in New Windsor, NY provides people with several quote options. If you call us,  we will run through your options with you, leaving no stone unturned. 

There are different types of life insurance out there for different insurance needs. One type is called whole life. This is a popular choice because it comes with a number of useful benefits to the policy holder. If you are interested in whole life insurance, call us at Bryan Insurance Agency LLC in New Windsor, NY. 

Why It’s Called Whole Life

One of the biggest benefits of this kind of insurance is that it literally covers you for the rest of your life as long as you keep paying the premiums. Term life is insurance that lasts a set term, but the whole life can’t be canceled by the insurance company as long as you are paying as agreed. Many people like this arrangement because they don’t want to have to shop for life insurance again down the road a few years. 

It Builds Value

Another difference between whole life and other insurance types is that you do own a portion of the amount. As you keep your whole life policy and keep making payments, it begins to develop a cash value. This is money that you can borrow against if you have a financial emergency. The policy will keep building value as you keep paying the premiums. Many people like to have this cash in reserve in case they do need to borrow money quickly someday. When the amount is borrowed against your cash value, it is a loan that is paid back over time. If the policyholder were to die before the full amount is paid back, the outstanding amount will be deducted from the death benefit.

Get Your Whole Life Policy

If you are interested in this type of life insurance, contact us today at Bryan Insurance Agency LLC in New Windsor, NY to learn more about it.