Five ways LIFE insurance can protect your FAMILY

Life insurance is one of the best tools for protecting your family's future — and the younger and healthier you are, the cheaper it is,  

If your family relies on you for financial support, it's probably time to get life insurance

When a loved one passes away, the last thing on your mind is money. But a life insurance policy can help families protect their futures and ease financial burdens.

If you are the beneficiary of a life insurance policy, you must file a claim to receive any money. You can choose to receive the benefit as a lump-sum payment or spread it out over several years as an annuity.

A life insurance payout could work toward your family’s financial security in several ways.

1- Save for retirement

If you’re married, your retirement plan is probably built around the financial contributions of you and your spouse. A life insurance benefit can be used to help replace their future contributions. Excess cash can be used to ensure maximum annual contributions to workplace plans as well as contributions to an IRA.

( Individual Retirement Account)

2- Pay bills 

Along with final expenses for the deceased, you may encounter some unexpected costs. For example, the death of a stay-at-home parent may mean additional child care, meals, and other household costs. The sum from a life insurance policy can be used to cover or defray these costs to maintain your family’s quality of life.

3- Fund a college savings account

To keep children’s dreams of higher education on track, consider using part of the life insurance benefit to fund a college savings plan. There are different options available, including some that allow for tax advantages and have no income limitations. 

4- Pay off debts

Eliminating debts can be a huge stress reliever, especially when you’re grieving. In addition to your own debts, you may have a legal obligation to pay off debts of the deceased, too. If you served as a co-signer on a loan or jointly held debts, then you will become responsible for those debts. But in non-community property states, debts incurred by one spouse are not always the responsibility of the other spouse following a death. Check the laws of your state to see what the obligations might be.

5- Create a lifetime income stream

Instead of taking a life insurance benefit all at once, consider spreading it out over several years with an annuity. This lessens the burden of having to manage a lump sum and makes your yearly income predictable. Annuities even allow you to spread out annuity payments for the rest of your life.

Although nothing can replace the loss of a loved one, having access to life insurance benefits can lessen financial worries during an already difficult time. Explore your options to make sure you’re making the right financial moves to meet your goals.

Talk with our financial advisor about how life insurance can fit into your financial plan. 
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Story of a Private Teacher / Tutor ( Retirement)

Teachers play an important role in our life to become successful in career and business. A good teacher helps us to become a good human being in society and a good citizen of the country. Teachers know that students are the future of any nation. So the future development of any nation is in the hands of teachers.

Home Tutor/ Private Teachers are very big assets of our Nation, but unfortunately they are facing a dependent Retirement in Pakistan.

As per my Research the  private teaching or tuition income just fulfill their 

Compulsory Needs Like:

• Home Rent
• Kitchen Expenses
• Travelling
• Food
• Utilities Bills
• Schooling of Kids
• Mobile/ Internet Expense
• and Other Miscellaneous Expenses 

Most of the Private Teacher/ Home tutors are Suffer with their Necessary Needs Like:

• Higher Education Fund for their Children
• Wedding Fund For their Child
• Own House

and mostly the LUXURY NEEDS are really far from them Like :

• Wealthy Retirement 
• Handsome Pension Income
• World Tour
• World Class Medical Treatment Coverage
• Dream Car etc

It is bitter reality that teachers make our children Dr. Engr. Pilot etc, they make future of our children ..... BUT WHAT ABOUT THEIR KIDS?????????????

If a Private teacher want his/her child to be a doctor today? 

they must have 6.0 Million for LIAQUAT NATIONAL COLLEGE

and 9.5 Million for AGHA KHAN UNIVERSITY

that Means 40,000 Every Month He/ She just have to save for the HIGHER EDUCATION of their 1 child only today? What  about after 20 years? Because in 2009 LIAQUAT NATIONAL HOSPITAL Fees was just 0.6 Million, We can analyze the Inflation of Education within the 10 years.........................................

                    Must See this Picture

A research Says : Many of Private Teachers/ Tutors Couldn't Able to afford a quality higher education or a good wedding function for their child due to Fund, and 90% of them suffer their RETIREMENT AND PENSION

The Purpose of Writing all these is just to Request all Private Teacher/ Home Tutors

Kindly  

• Secure your CHILD HIGHER EDUCATION 
• Fund for Their WEDDING 
• A Wealthy Retirement and Pension Income 

A good Quality Higher Education is Basic Right of Every Child

and A WEALTHY RETIREMENT AND PENSION of Private Teacher/ Tutor is Compulsory Need

Why We Need Life Insurance

Hello Guys!

We always have some Queries and Questions in mind when we are talking about life insurance. I hope this Blog will Help you to increase your knowledge and Give you a Proper Concept about Life Insurance.

Watch This Video to know the Concept of Insurance

Insurance can be confusing and it’s hard to know what you really need or want. But here are very good reasons why you need life insurance.

TO PROTECT YOUR FAMILY AND LOVED ONES

If your loved ones depend on your financial support for their livelihood, then life insurance is a must, because it replaces your income when you die. This is especially important for parents of young children or adults who would find it difficult to sustain their standard of living if they no longer had access to the income provide by their partner. You will also need to provide enough money to cover the costs of hiring someone to cover the day-to-day household tasks, like cleaning, laundry, cooking, childcare and everything else a growing family needs.

TO LEAVE AN INHERITANCE

Even if you don’t have any other assets to pass to your heirs, you can create an inheritance by buying a life insurance policy and naming them as beneficiaries. This is a great way to set your kids up for a solid financial future and provide for any monetary needs that will arise.

TO PAY OFF DEBTS AND OTHER EXPENSES

In addition to providing income to cover everyday living expenses, your family needs insurance to cover any outstanding debts, like the mortgage, credit cards and Car  Loans. Other expenses include funeral and burial costs that can easily run into the tens of thousands of dollars. You don't want your spouse, parents, children or other loved ones to be left with any extra financial burden in addition to the emotional burden they’re already suffering.

TO ADD MORE FINANCIAL SECURITY

Like most parents you probably want to know your kids will be well taken care of when you’re gone. You not only want them to get a quality college education, but to provide for other life ventures like getting married or starting a business. For this reason, additional coverage is absolutely essential while your kids are still at home.

TO BRING PEACE OF MIND

We can’t know when we’ll pass away. It could be today, tomorrow or 50 years from now, but it will happen eventually. No amount of money could ever replace a person. But more than anything, life insurance can help provide protection for the uncertainties in life. Without a doubt, having life insurance coverage will bring you and your family peace of mind. It’s one thing you can be sure of and you’ll no longer have to question whether they’ll be taken care of when you’re gone. Life insurance protects your heirs from the unknown and helps them through an otherwise difficult time of loss.