Category: Life Insurance

When you consider purchasing a life insurance policy, Hausmann Insurance & Financial Services suggests consulting with a knowledgeable insurance agent about your lifetime financial goals first. Some of the life insurance options available to Charlotte residents can help them build a nest egg while providing a death benefit to their beneficiaries upon their death.

An Insurance Decision Example

When your agent consults with you in Waxhaw, NC, they’ll ask a client about their financial goals and current needs for beneficiaries. For instance, a 36-year-old married customer with two children, aged five and six, needs a funeral benefit and a death benefit for their family. They can divide this into three payments or leave one to their spouse. They ask about financial goals to determine how much money they need as a death benefit and, therefore, the face value of the policy. The client may want to make sure there’s plenty of money to:

• Pay off the mortgage.
• Pay off the car loan.
• Provide income replacement for their income.
• Pay for college for both children.

Although many single people their age choose term policies, a whole-life policy works better for them. They and their spouse also need to prepare for retirement, so the insurance agent suggests a whole-life policy called a cash-value life insurance policy.

Life Insurance Policies That Help You Build Wealth

Four main types of cash-value life insurance policies exist, each providing two components. First, a cash-value life policy includes a death benefit and, second, a money market or savings account. The four most common types of these policies include:

• Guaranteed Issue Life Insurance
• Guaranteed Universal Life Insurance
• Indexed Universal Life Insurance
• Variable Universal Life Insurance.

Each varies on the method of accruing interest or growing the money market account. For example, an indexed policy earns at a commensurate rate like the Standard & Poor’s 500, NASDAQ-100, or other stock market index the insurer selects. The money market account grows over time since a portion of each month’s insurance premiums goes into it. The policyholder can borrow against the account once it vests.

Get Your Life Insurance Policy Started Today

Let Hausmann Insurance & Financial Services help you plan for retirement and death. Whether you live in Charlotte or Waxhaw, NC, we can help you purchase the ideal life insurance policy for your situation.

When you consider purchasing a life insurance policy, Hausmann Insurance & Financial Services suggests consulting with a knowledgeable insurance agent about your lifetime financial goals first. Some of the life insurance options available to Charlotte residents can help them build a nest egg while providing a death benefit to their beneficiaries upon their death.

An Insurance Decision Example

When your agent consults with you in Waxhaw, NC, they’ll ask a client about their financial goals and current needs for beneficiaries. For instance, a 36-year-old married customer with two children, aged five and six, needs a funeral benefit and a death benefit for their family. They can divide this into three payments or leave one to their spouse. They ask about financial goals to determine how much money they need as a death benefit and, therefore, the face value of the policy. The client may want to make sure there’s plenty of money to:

• Pay off the mortgage.
• Pay off the car loan.
• Provide income replacement for their income.
• Pay for college for both children.

Although many single people their age choose term policies, a whole-life policy works better for them. They and their spouse also need to prepare for retirement, so the insurance agent suggests a whole-life policy called a cash-value life insurance policy.

Life Insurance Policies That Help You Build Wealth

Four main types of cash-value life insurance policies exist, each providing two components. First, a cash-value life policy includes a death benefit and, second, a money market or savings account. The four most common types of these policies include:

• Guaranteed Issue Life Insurance
• Guaranteed Universal Life Insurance
• Indexed Universal Life Insurance
• Variable Universal Life Insurance.

Each varies on the method of accruing interest or growing the money market account. For example, an indexed policy earns at a commensurate rate like the Standard & Poor’s 500, NASDAQ-100, or other stock market index the insurer selects. The money market account grows over time since a portion of each month’s insurance premiums goes into it. The policyholder can borrow against the account once it vests.

Get Your Life Insurance Policy Started Today

Let Hausmann Insurance & Financial Services help you plan for retirement and death. Whether you live in Charlotte or Waxhaw, NC, we can help you purchase the ideal life insurance policy for your situation.

Life insurance helps with financial security for loved ones and ensures coverage for final medical expenses around Charlotte and Waxhaw, NC. Understanding the role of life insurance in covering medical costs at the end of life is essential for effective planning and peace of mind.

Financial Assistance for Medical Bills

Medical expenses can accumulate rapidly during a terminal illness or at the end of life. Life insurance offers a solution by providing much-needed financial assistance. The death benefit from a life insurance policy can cover various medical bills, including hospital stays, treatments, medications, and hospice care.

Providing Comfort and Dignity

Having life insurance to cover final medical expenses offers comfort for individuals and family members during a challenging time. The assurance that medical bills will be paid removes the stress and strain. It gives families time together without the burden of financial worries. 

Ensuring Peace of Mind

Life insurance provides peace of mind by ensuring that one’s medical expenses will be covered without burdening family members or depleting savings. By securing adequate life insurance coverage, individuals can rest assured that their final medical bills will be settled, enabling them to focus on their well-being and the emotional needs of their loved ones.

Planning for the Future

Incorporating coverage for final medical expenses into life insurance planning is crucial for comprehensive financial planning. By considering the potential costs of medical care at the end of life and securing sufficient life insurance coverage, the final wishes of those passing are honored with dignity alongside their family.  

Let Hausmann Insurance & Financial Services Give You Information

Hausmann Insurance & Financial Services is here to assist you with all your life insurance queries. We cover the Charlotte and Waxhaw, NC region. Reach out to us today.

Searching for the right life insurance is usually challenging.  But finding one that meets your elderly parents’ needs could also take time.  But there are plenty of benefits to searching for one for them.  Our agents at Hausmann Insurance & Financial Services serving Waxhaw, NC and Charlotte are here for you in choosing the right life insurance plan for your aging parents.

Three Benefits Of  Life Insurance

Help Cover the Cost of Their Care

As your parents start to grow older, their health will likely start to decline.  Shop for a quality life insurance plan that will allow you to cover their end-of-life expenses or their medical care.  Having a life insurance plan makes things easier than just saving money in an account or the stock market.  Always consider what you can afford in premiums, the type of policy that meets their needs, and how much coverage they need.

Pay Off Various Debts

What if your parents have a mortgage, college, or any other debt they still have to pay off?  A life insurance plan allows them to be able to pay it off.  Not all parents will arrive at retirement age debt-free.  More than 10 million Americans over the age of 65 had a mortgage in 2021.  Student loans have become a burden for older adults, with many of them being over $126 billion in debt in 2021.

Leave an Inheritance

Establishing a life insurance plan for your parents also involves leaving behind an inheritance for you and your family.  When they’re long gone, the death benefit can cover the costs of their grandchildren going to college.  If they have a specific charity they support, it can be a good way to donate to them after they pass away.

Contact Us For Life Insurance Options

Searching for the right life insurance for your elderly parents doesn’t have to be hard.  You’ll be covering the cost of their medical care, paying off their debts, and leaving behind an inheritance if you consider buying a plan.  Contact our Waxhaw, NC and Charlotte, NC offices at Hausmann Insurance & Financial Services to schedule an appointment today.  

The agents at Hausmann Insurance & Financial Services serving the Charlotte and Waxhaw, NC areas want you to know that there is a certain amount of peace of mind that comes with knowing your loved ones are financially protected when you pass away. This is the main reason why a life insurance policy is important to have in place since it is designed to provide financial support to your beneficiaries in the event of your death.

There are various types of life insurance policies available that you can choose from that fit with the specific needs and goals of you and your family.

Main Types of Life Insurance Policies

Universal Life Insurance

This type of policy offers the flexibility to adjust the premium payments and death benefits over time.  This means you can increase or decrease the coverage amount and premium payments to suit your and your family’s changing needs.

Term Life Insurance

Term life insurance only provides coverage for a specific amount of time that is designated in the term policy. This can range anywhere from 1 to 30 years or more. If your policy expires while you’re still alive, though, you will have to start a new policy.

Whole Life Insurance

Whole life insurance policies seem to be the most popular choice since you can borrow money against the cash value of the policy while you are still alive. This means you can pay off major bills ahead of time, including your mortgage or vehicle payments. This will help your family out after your death since they will not have the added stress of trying to pay these types of bills.

Contact Us Today

To create the best life insurance policy for you and your family, you need to contact an experienced and knowledgeable agent when it comes to life insurance. Call the life insurance agents at Hausmann Insurance & Financial Services serving the Charlotte and Waxhaw, NC areas today to get your policy started!

If you want your family in Charlotte or Waxhaw, NC to be financially secure, one of the most important financial products you need is life insurance. Our life insurance policies at Hausmann Insurance & Financial Services can help you to meet your family’s needs even if you pass away unexpectedly and your family loses your income.

The following are three ways your family can benefit from life insurance coverage

Life insurance coverage provides financial support for your dependent family members if you pass away

If you are the major breadwinner for your family, your dependents won’t have enough financial support to maintain their lifestyle if you’re not there. Life insurance coverage can, fortunately, allow your family members to receive funds through a death benefit that will financially support them in the event of your untimely death. 

Life insurance can cover your funeral and burial costs so that your family members don’t have to foot the bill

Life insurance coverage isn’t just used to financially support surviving family members. Life insurance can also be used to cover one’s burial and funeral costs so that these costs don’t create a financial burden for an individual’s surviving family. 

Life insurance coverage gives your dependent family members more peace of mind about the future

Worrying about the future can be a source of stress. When you carry life insurance, both you and your family members can enjoy the peace of mind of knowing that you’ve planned ahead for future uncertainties. 

Contact Us Today

Hausmann Insurance & Financial Services is here to provide residents in Charlotte and Waxhaw, NC with a quote on life insurance coverage for you and your family. Give us a call to learn more about our policy options and get a quote on life insurance. 

Life insurance isn’t something you want to avoid at all costs, but it’s also not something you should rush before researching. Unfortunately, life insurance does come with some drawbacks. The biggest one is the cost. It’s not cheap, and it can be expensive, depending on your policy. 

Another potential drawback is that some life insurance policies come with a clause that stops them from paying out if you die from a particular cause, such as contracting a terminal illness. If you do not have a valid reason for purchasing a policy, you put your family at risk and waste your money. 

Certain types of life insurance are considered unnecessary and even dangerous. Hausmann Insurance & Financial Services serving the greater Charlotte and Waxhaw, NC community offers you this guide on navigating life insurance. 

The Cost of Life Insurance

The cost of life insurance is one of the main reasons people avoid getting a policy. There are now many affordable options available, and you can even find some life insurance policies that are less than $20 per month. When policy shopping, compare different providers. You can also reduce the cost of your policy by getting a term policy instead of a whole life policy. 

Term life insurance is significantly cheaper than full life insurance. However, term life insurance may not be a good option if you have dependents who rely on your income. When comparing life insurance quotes, keep in mind that the cost of insurance varies depending on your age, health, and other factors. The most affordable life insurance usually falls between 10 and 20 years. 

Still, if you have a health condition that makes it difficult to purchase coverage at any age, you may be limited to term insurance. The more risk, the higher the cost. The lower your risk profile, the less you pay for your policy. Even small changes in your profile, such as losing weight, can decrease your risk profile. 

Contact Us Today

The benefits of having life insurance do outweigh the drawbacks. For more expert advice, contact the team at Hausmann Insurance & Financial Services. We proudly serve clients in Charlotte and Waxhaw, NC.

When you are looking for life insurance, you will be faced with the option of term life insurance and whole life insurance. The differences can sound confusing at first.

At Hausmann Insurance & Financial Services, we want Charlotte and Waxhaw, NC residents to get the right life insurance coverage for their needs. 

Learn about the difference between term life insurance and whole life insurance here.

Term Life Insurance

Term life insurance is a simplified life insurance policy that is active for a set number of years, or a term. It could be a five-year term, 10-year term, or 20-year term. 

If you pass on before the term ends, the coverage is paid out in one lump sum to your beneficiary. If the term ends before you pass, you can then convert your policy to more permanent life insurance or renew it depending on your circumstances at the time.

An insurance agent and broker can help you to determine the needs of your beneficiary, and how long your term should be, as well as how much coverage you should have. For example, a $500,000 life insurance policy on a 10-year term would give your beneficiary $50,000 a year to live on for 10 years.

Whole Life Insurance

Whole life insurance is a type of permanent life insurance that does not have a term. It lasts for the rest of your life or as long as you pay premiums on it. Some whole life insurance policies have a cash-value amount, where you can cash out some of your life insurance before you pass away.

Some of your premiums go into a separate account, and after a certain amount of time paying will be eligible to cash that out or withdraw it. You can also borrow against the account.

Get a Quote

When you are purchasing life insurance, you will need to talk to an agent to get the right quote and information on what kind of policy is best for you. Both have their benefits and advantages. At Hausmann Insurance & Financial Services, we want Charlotte and Waxhaw, NC residents to get the right life insurance product for their lives. Call us for a quote today.

Life insurance is crucial in safeguarding your loved ones financially if a tragedy strikes. Unluckily, many Charlotte and Waxhaw, NC residents, like many Americans, go without it. Statistics demonstrate that nearly half of Americans don’t have life insurance coverage. Most people assume life insurance is expensive, unnecessary, or don’t know the insurance plan’s benefits. 

If you are unsure if you need to invest in life insurance, hang on as Hausmann Insurance & Financial Services demonstrates why life insurance is a worthwhile investment. 

Protects your dependents

A life insurance policy is an ultimate protection against losing the insured’s income upon his demise. The beneficiary receives the benefits, getting cushioned against financial difficulties after the policyholder passes away. 

Covers your debts

Life insurance pays for your mortgage, credit card, or student loan when you die. Instead of burdening your spouse or cosigners with financial liabilities when you die, purchase life insurance.  

If you have a business

Life insurance protects your business partners and employees when you die by replacing your financial contribution. 

Life insurance covers final expenses.

Many Americans have inadequate savings to cater for emergency expenses, signaling a financial burden in settling funeral expenses. This policy pays for burial costs without beneficiaries having to dip into their savings.

Life insurance can supplement your retirement savings

If you procure whole, universal, or variable insurance coverage, it accumulates cash value in addition to providing death benefits. This cash value builds over time, and it can cover expenses such as purchasing a house.

Buy life insurance today!

Not only does a life insurance policy support your beneficiaries after your untimely death, but it carries other benefits even for persons without dependents. Are you searching for life insurance in Charlotte, Waxhaw, NC, and the surrounding areas? Feel free to contact us or visit our offices at Hausmann Insurance & Financial Services for a comprehensive life insurance policy.

What Life Insurance is right for you?

Financial planning is probably not at the top of your to-do list, but we all know how critical it is to create a plan. Part of a complete financial plan should include life insurance. If you’re the primary breadwinner and an accident occurs that causes you to be unable to take care of your family financially, life insurance could then step in and help your family make ends meet. There are several various plans of life insurance plans available. An insurance professional at Hausmann Insurance & Financial Services will take the time to go over the available options with you to help you find a policy that may work for your situation. Hausmann Insurance & Financial Services serves the Charlotte and Waxhaw, NC community and is ready to help you navigate life insurance plans available to you and your family.

Don’t leave your family out in the cold.

Life insurance plans are available in many forms. The two main policies people tend to purchase are Permanent Life and Term Life. Term life covers a specified length of time, generally in 10, 20, or 30-year lengths. If you die within the coverage period of your plan, your beneficiaries will be paid. If you don’t use the policy before it expires, you can purchase into another program or switch to a Permanent Life plan. Permanent Life usually has a higher associated cost, though it offers more features. 

What are your options? 

When you decide that it’s time to look at life insurance options, the agents at Hausmann Insurance & Financial Services are ready to help you through the various plans and make the process as easy as possible. If you’re in the Charlotte and Waxhaw, NC community, stop by the office. If not, give us a call today.