- It costs $245k to raise a child
- It costs about $7k for a modest funeral
- It can cost only $14.24 per month for $250k in life insurance
Sources: US Dept. of Agriculture, National Funeral Directors Association, Erie Family Life
Types of Life Insurance Plans
Term Life Insurance: Best for people who need cost-effective protection for loved ones left behind, term life policies provide coverage for a select period of time: 10, 15, 20, or 30-year plans
Whole Life Insurance: Best for people who need entire life protection for their family with a guaranteed premium. Whole life plans typically have a much higher premium than term life plans.
Universal Life Insurance: Best for people who need college savings, estate planning, business planning, or additional retirement savings. These entire life protection policies have cash value that grows over time with interest and a flexible payment schedule.
Top Reasons to Purchase Life Insurance
Keeping A Home In The Family
Are you raising a family while paying down your mortgage? Whatever happens, you don’t want your children to lose their home or be burdened with their debt. Purchasing a 30-year term life insurance policy can protect your family by paying off your mortgage if anything should happen, so you can pass your home down to your children
Are you the primary wage-earner for your family? Are you worried about a time you might not be there for them anymore? Ensure your family isn’t burdened by costs for your funeral or unpaid medical bills. Purchase a permanent life insurance policy from Erie Family Life to provide the funds necessary to pay final expenses. You can feel better knowing it might help ease their pain during a stressful time.
Income & Debt
Do you want to safeguard your family’s lifestyle? Do you and your partner each contribute to a large household? You want to make sure the income you provide today is there for the family should something happen to either of you. 20-year term life plans for you and your partner from Erie Family Life put your concerns to rest. Each policy can be used to help pay off debt and pay the monthly bills in order to maintain the family’s lifestyle.
Your proud of your son or daughter who is in college. You hate to think about it, but what if something was to happen to them? Could you pay off the student loans you cosigned? College loan protection coverage can protect you as parents from the added heartache of paying college debt. A 20-year term life insurance policy can be used to pay off student loans in the case of a tragedy.
Like many of us, you’re looking for a safe way to ensure that your dreams of a comfortable retirement become reality. You are planning to save for the future and want to guarantee an income during your retirement years. If you aren’t sure where to start, talk to the Meck Insurance Agency. Erie Family Life offers several retirement savings options like annuities, Individual Retirement Accounts (IRAs) and life insurance planning for businesses.
You have worked hard to build a good life and wants to leave behind a legacy that matters. You would like to establish a plan that would help your family financially and ensure charitable gifts to your favorite organizations. You can purchase a permanent life insurance policy from Erie Family Life that will provide for your family and your favorite charities. It offers guaranteed cash value accumulation and a guaranteed death benefit.
Protect Your Business
You and your spouse are partners who put your heart and soul into making sure your business thrives. You want to be prepared in case something should happen to one of you or to a key employee. Purchase a universal life policy to provide funding for a buy-sell agreement and key person protection.
Meck Insurance Agency
Meck Insurance Agency offers a complete line of individual life insurance products that are crafted to meet you and your family’s specific needs. We work with several different top-rated insurance companies, and we will place your account with the company that will provide you with the coverage and benefits you want at a competitive price.
Meck Insurance Agency can help you make sound, informed decisions about issues affecting your life insurance needs. Our philosophy is to fully understand your objectives and then translate them into solutions that provide assurance and peace-of-mind.
For more information, you can read our Life Insurance FAQs.