San Antonio Life Insurance
& Your Life
Some topics are difficult to discuss, and I have found that avoiding a subject does not serve my clients well. We do not know what tomorrow holds, and living today to the fullest is a noble ambition. But, what happens when tomorrow never comes due to a death? What happens to the loved ones left behind?
Life events force us to consider options that were never a concern before and the wrong time to make decision is not at your funeral. For some, life insurance is a waste of time or counter-productive, but others may see an advantage of securing one’s legacy.
At Almendariz Insurance, we believe your situation is a unique as your finger print. This is not a one size fits all and our approach is to understand the nature before offering solutions.
Our Job is to Guide Clients to a Safe Conclusion
Our goal is to offer you and your family a storehouse of options for life insurance. Call today at (210) 301-1640 so we can review your needs, risks, and tolerance and put you in the right policy that makes your life simpler.
Ask the Right Questions
What is a term policy?
What is permanent policy?
What is the difference between Whole and Universal Life?
What is cash-value?
What is surrender-value?
How much should I buy?
Life insurance dates back to the late 1800’s, however, many families are not insured. Perhaps this is due to the over-saturation of marketing or the timid approach and lack of understanding on this topic. Without a doubt, it is an important conversation to have with my clients. Money will never replace the loss of a loved one, but careful planning and consideration of what one leaves behind can give a sense of legacy and avoid financial hardship. There are formulas and certain questions to ask in gauging a death benefit amount, but the goal is to always remain sensitive to the idea of loss and remain focus on preservation.
Details of whom will receive the death benefit can cause confusion. Hurt feelings or inconsiderate actions can leave family members lost. Immediate family members are normally the ones to inherit the money, but in certain situations it may not be wise. How a memory will live on becomes the burden of the beneficiary and managing the funds is real responsibility. Providing direction and details in a will or estate may give certain discretion when that time comes.
Some families prefer their child(ren) to benefit from the money. Unfortunately, if these heirs are too young it could present a problem with pro-bate. Having a contingent can help circumvent by designating the under-age individuals as second in the event the original beneficiary passes unexpectedly. Whatever the case, there are many avenues to explore but understanding the concern is priortiy.
A life policy does not mean insuring oneself, but could purchased on another’s behalf is possible as long as it allows for insurable interest. An example would be a parent purchasing a life policy on their child as a means to grow over time. The value over time can lend itself as another financial avenue for that child which can be accessed at a designated time. Other scenarios may be appropriate, but insuring a complete stranger is unlikely to meet a carrier’s criteria.
Policies can range from a term over a period of time to having a more permanent coverage. The kind of policy is determined by what the insured wishes to accomplish. It is entirely to use a policy as a means to build value over time and is used as a “quasi-retirement” vehicle. Granted it is not a true retirement plan, but safeguards help from tax consequences. These conversation go into my depth becuase it is preparing in the event one wishes to retire and use the funding in their permanent policy.
About Almendariz Insurance Life Division
Serving Greater San Antonio families since 2007, Almendariz Insurance is a local family-owned business. As an agent, Fernando Almendariz recognized the need for independence and freedom to offer different carriers. This became especially important during the Texas hailstorm of 2016. It became more evident that offering our clients various options can only benefit them and their needs. That’s why Almendariz maintains active relationships with multiple reputable and well-rated insurance underwriters. Because at the end of the day, it’s all about you. Call today at (210) 301-1640 and put us to work for you.
By having a working knowledge of life insurance, we understand that it can benefit your needs. Not all insurance companies are created alike, and by weighing the benefits of a particular plan we can then determine if cost is the best approach.
What kind of life insurance will I need?
Life insurance comes in all shapes and sizes and if one is not careful they may find themselves with a policy that is inadequate. Knowing basic terminology is important (term life, whole life, universal life) because this separates itself from other companies that offer similar products.
For the most part, term insurance is the most common coverage and least expensive way to obtain a large death benefit. The least expensive options exist when we are younger but chances are we may not be in a financial position to maximize that opportunity. As the cycle of life progresses, a family grows and more financial responsibility exists. Our culture is conditioned to amass more and more but the end game should not be death.
After all, we cannot take these possession with us. So, the better option is to leave our next of kin a legacy that understands the value of being financially secure. It does not require a large policy, but it does require lifelong planning.
Keep up with change
Periodic reviews are necessary. Whether you are an employer or an employee, it is good to understand options for major-medical insurance.
Even though many believe cheaper is better, there have been instances where cheaper was costly because the policy was not enough. Don’t let it be too late before making changes that fit you and your family’s needs. Having a working knowledge leads to an informed decision instead of a costly one. We are here to guide and explain what does and does not work for you.
Call today at (210) 301-1640 and put us to work getting the best deal for you.