Life Insurance

Life insurance is an important part of your financial planning at any age. A quality life insurance policy will provide your loved ones with much needed financial security in the event you were to pass away. Unfortunately, most families would not be able to get by financially if they were to lose a loved one. At Agency Associates, we are committed to helping families throughout Kansas City, Overland Park, Mission, Shawnee, and Prairie Village gain this financial security through an affordable life insurance plan that meets their individual needs.
 
It is important to take the time to review life insurance options while you are young. As you age, premium rates will begin to increase. Young individuals can purchase life insurance with confidence knowing that their policy and benefits are protected. The Kansas Life & Health Insurance Guaranty Association, established in 1972, protects policy holders in the event a life insurer becomes insolvent during a policy holder’s lifetime.
 
If you are like many individuals, your employer may have provided you with a few life insurance options. Unfortunately, employer-offered life insurance benefits rarely provide an adequate level of protection for your family. It is not uncommon for employer-offered life insurance to offer protection equal to a single year of income. A general rule of thumb is that a life insurance policy should provide a benefit of roughly 8 to 10 times the breadwinner’s yearly income. Life insurance from your employer can fall well short of this recommendation which will leave your loved ones unprotected.
 
Life insurance is offered as either Term Life Insurance or Permanent Life Insurance.
 
  • Term Life Insurance - Coverage for a set period of time, typically ranging from 5-30 years. Term Life Insurance is one of the more affordable types of life insurance.
  • Permanent or Whole Life Insurance - Coverage for a lifetime that can often include an investment component. The investment component of Permanent Life Insurance makes it the more expensive option of the two.
 
Universal Life, Variable Life, and Variable Universal Life insurance policies are variations of Permanent or Whole Life Insurance designed to offer more flexibility than what a traditional Whole Life policy could offer. The team of life insurance experts at Agency Associates can break down each of these options for you and help you select the type of policy that is best for you.
 
When reviewing your life insurance options, be sure to think ahead about any possible expenses your loved ones may incur. Consider things like medical expenses, burial costs, estate taxes, monthly bills, mortgages, college tuition, and retirement costs. You should always reevaluate any life insurance investments you have made after every major life event such as the birth of a child, marriage, or the purchase of a new home, to ensure your coverage is still sufficient.
 
At Agency Associates, our dedicated staff is committed to helping you care for your loved ones, even after you have passed. A qualify life insurance plan from a trusted provided will ensure your family is protected. Contact us today with any questions you may have about your Kansas life insurance options.


Return to Content Pages