Life Insurance

A policy for Life InsuranceHaving the right life insurance policy in place plays a crucial role in your overall financial planning strategy. Getting a free life insurance quote from Dothan, Alabama’s Mallory Tate Agency is your first step to securing your family’s future.

Do You Really Need Life Insurance?

Do you have children or dependents? Do you have money saved for funeral expenses? Do you contribute regularly to certain charities? Do you have a fully-funded emergency account? Statistically, the top reasons for obtaining a life insurance policy are:

  • To assist family in paying for final expenses
  • To provide replacement income for your dependents
  • To help cover any estate taxes owed
  • Creation of an inheritance for your heirs
  • A way to save money to ensure significant contributions to your favorite charities

Mallory-Tate Insurance Services, LLC. can help you find the right life insurance coverage for you, and help ensure that your policy continues to meet your changing needs.Life Changes. So Should Your Policy.The type of life insurance policy you choose should be based on your financial needs and goals. As life happens, these needs and goals are bound to change. A Mallory-Tate Insurance Services, LLC. agent can help you assess your current situational needs and will continue to assist you in making policy changes if necessary.

What Kind of Life Event Merits a Change in Policy?

A singular event can change everything, sometimes for the better, sometimes not. It is important to make changes to your insurance policies in tandem with these incidents so your personal needs and goals can continue to be met. There are many scenarios in which a change in policy might be necessary:

  • You recently married or divorced
  • You have a new child or grandchild
  • You have opened or expanded a business
  • Your health or your spouse’s health has deteriorated
  • You are providing care or financial assistance to a parent
  • You are planning for a child or grandchild’s education
  • You are concerned about retirement income
  • You or your spouse recently received an inheritance
  • You have a sizable estate

What Type of Policy Options Are There?

  • Mallory-Tate Insurance Services, LLC. offers several types of policies to meet your needs.
  • Term Life Insurance generally provides protection for a specified period of time and is normally a less expensive option.
  • Whole Life Insurance provides protection for your entire lifetime. This type of policy is referred to as Permanent Life Insurance. Whole life insurance policies have a fixed premium, set death benefits, can be borrowed against tax free, and build cash value over time.
  • Universal Life Insurance is also a form of permanent life insurance, but unlike whole life insurance, universal life offers more flexibility in premium payments and amount of death benefits.
  • For more information on life insurance policies and how they can benefit you, contact Mallory-Tate Insurance.

Watch Our Video on the Importance of Life Insurance