What we believe as we approach your planning: 

•  There are really only 3 reasons to buy life insurance:
  

  • Commitments: Help pay for debts, obligations or fund your desired legacy and personal passions.
  • Income: Help replace your income or the portion needed for those dependent on it.
  • Liquidity: Help avoid the need to sell good assets at the wrong time; help equalize your estate among multiple heirs.   

• There are really only two types of life insurance policies – those without cash value (generally Term Life insurance) and those with cash value (Whole Life, Universal Life, Index Life, Variable Life and variations of each). Policies can be complicated and often have a lot of small print but they basically fit into one of these two categories.      

• These are our top three priorities in planning your life insurance program:

  • First priority -  Buy the right amount of death benefit – not too much, not too little – based on the legacy you desire to leave and your ability to pay.
  • Second priority - Buy the death benefit coverage for the right time frame (will help determine the type of life insurance you need – don’t buy permanent coverage for a temporary need).
  • Third priority - Pay as little as is reasonable for the coverage with a stable company (which will help your agent determine which product and which company you should use).   

• We believe a final essential is to review your plans on a regular basis.  

• We do not sell products so we can offer clarifying insight and true objectivity into how to best create your desired legacy. We offer annual stewardship support to help make certain your plans meet your objectives over time.

Neither Petra Life Services, Inc. nor its representatives may give you tax or legal advice. We recommend that you consult with, and rely on, your own tax and legal advisors about the concepts presented in these materials.