Life Insurance

How will your Loved Ones manage financially, if/when you die prematurely?

We here at Roqué Agency Insurance feel our clients’ Life Insurance is the most crucial protection to be secured.  It establishes an Immediate Estate for loved ones should the insured perish prematurely.  Life Insurance is most often considered in two basic types:  Term and Perm.  We are of the school of thought that Term Insurance offers the best solution when coordinated with a solid stock & mutual fund investment strategy.

Term Life Insurance normally provides coverage at a fixed rate or payment for a limited period of time (the Term). After that period expires, coverage at the previous rate of premium is no longer guaranteed and the client must either forgo coverage or potentially obtain new coverage with different payments and conditions. If the insured should die during the term, the death benefit will be paid to the beneficiary. Fixed Term insurance is the least expensive way to purchase a substantial amount of coverage per premium dollar over a specific period of time. We here at Roqué Agency Insurance will recommend Term Life for each and every one of our clients.

Permanent Life Insurance can come in different forms, but the most common are Whole life, Universal life and Variable life.  Permanent life insurance policies provide protection as long as the premiums continue being paid and are best known as “Cash Value” insurance.  Additionally, you don’t have to medically re-qualify for permanent insurance the same way you would if/when you secure Term Insurance.

A simple way to calculate how much Life Insurance you might need can be illustrated in the acrostic, LIFE:

L:  Loans outstanding –  Dollars to erase the burden and worry of a mortgage, credit cards, cars and/or student loan like balances.

I:  Income replacement –  Dollars to support your survivors financially until they can manage for themselves.  How long would you want to continue providing for your family?  In today’s reality, this family often includes a spouse, children as well as aging parents whose care you were responsible for.

F:  Final expenses –  Dollars to cover funeral arrangements, any medical co-pays & deductibles incurred as well as transportation costs for traveling family.

E:  Education –  Dollars to cover costs for your survivors to complete college and/or occupational training in order to sustain themselves throughout their remaining lives.