Life Insurance Protecting Your Family’s Future
<ul><li>What is Life Insurance? </li></ul><ul><li>Why is Life Insurance important? </li></ul><ul><li>Types of Life Insuran...
What is Life Insurance? <ul><ul><li>Life insurance protects against the economic loss caused by the loss of a human life. ...
Why is Life Insurance important? <ul><li>Replace income for dependents </li></ul><ul><li>Pay final expenses </li></ul><ul>...
Types of Life Insurance <ul><li>Whole Life   / Permanent  – Pays a death benefit whenever death occurs.  </li></ul><ul><li...
Types of Life Insurance Term  – Usually purchased as a temporary need for protection, benefit is payable only if the insur...
What type is right for you? <ul><li>Term </li></ul><ul><li>-  Coverage for a specific  period of time.  </li></ul><ul><li>...
When should I review my Life Insurance Needs? <ul><li>Getting married </li></ul><ul><li>Buying a home </li></ul><ul><li>Ha...
How much do you need? <ul><li>Immediate expenses </li></ul><ul><li>Unpaid medical bills, final tax bills, attorney fees </...
Calculate how much life insurance you need: Erie Family Life Insurance Calculator www.erieinsurance.com/LifeCalc Tip Sheet
DIME Method <ul><li>D   – Death Expenses </li></ul><ul><li>I   – Income Replacement </li></ul><ul><li>M   – Mortgage Cance...
Lisa Fuller Fuller & Associates Insurance 410-914-5467 www.InsureWithFuller.com www.InsureWithFuller.com [email_address] W...
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Life

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  • Introduction
  • Life

    1. 1. Life Insurance Protecting Your Family’s Future
    2. 2. <ul><li>What is Life Insurance? </li></ul><ul><li>Why is Life Insurance important? </li></ul><ul><li>Types of Life Insurance </li></ul><ul><li>How much coverage do you need? </li></ul><ul><li>Erie Family Life Insurance products </li></ul>Note: Insurance policies vary. Always be sure and discuss your individual needs with a professional.
    3. 3. What is Life Insurance? <ul><ul><li>Life insurance protects against the economic loss caused by the loss of a human life. </li></ul></ul>
    4. 4. Why is Life Insurance important? <ul><li>Replace income for dependents </li></ul><ul><li>Pay final expenses </li></ul><ul><li>Create an inheritance for heirs </li></ul><ul><li>Pays federal and state death taxes </li></ul><ul><li>Make charitable contributions </li></ul><ul><li>Create a source of savings </li></ul>
    5. 5. Types of Life Insurance <ul><li>Whole Life / Permanent – Pays a death benefit whenever death occurs. </li></ul><ul><li>Three common variations: </li></ul><ul><ul><ul><ul><li>Traditional Whole Life </li></ul></ul></ul></ul><ul><ul><ul><ul><li>Universal Life </li></ul></ul></ul></ul><ul><ul><ul><ul><li>Variable Universal Life </li></ul></ul></ul></ul>
    6. 6. Types of Life Insurance Term – Usually purchased as a temporary need for protection, benefit is payable only if the insured dies during a specified time period (term). The premium is paid in exchange for a death benefit only (no cash value).
    7. 7. What type is right for you? <ul><li>Term </li></ul><ul><li>- Coverage for a specific period of time. </li></ul><ul><li>Large amount of life insurance is need on a limited budget. </li></ul><ul><li>Lower premiums to begin but increasing with age upon renewal. </li></ul><ul><li>Permanent </li></ul><ul><li>- Provides coverage for life. </li></ul><ul><li>Accumulate savings </li></ul><ul><li>Guaranteed premium (rate remains the same regardless of age). </li></ul>
    8. 8. When should I review my Life Insurance Needs? <ul><li>Getting married </li></ul><ul><li>Buying a home </li></ul><ul><li>Having a child </li></ul><ul><li>Changes in your marital status </li></ul><ul><li>Annual job performance review </li></ul>
    9. 9. How much do you need? <ul><li>Immediate expenses </li></ul><ul><li>Unpaid medical bills, final tax bills, attorney fees </li></ul><ul><li>Outstanding debt </li></ul><ul><li>- Car loans, student loans, mortgage, credit cards </li></ul><ul><li>Survivor’s income </li></ul><ul><li>Reasonable daily expenses, college tuition </li></ul><ul><li>Charitable contributions </li></ul>
    10. 10. Calculate how much life insurance you need: Erie Family Life Insurance Calculator www.erieinsurance.com/LifeCalc Tip Sheet
    11. 11. DIME Method <ul><li>D – Death Expenses </li></ul><ul><li>I – Income Replacement </li></ul><ul><li>M – Mortgage Cancellation </li></ul><ul><li>E – Education Fund </li></ul>
    12. 12. Lisa Fuller Fuller & Associates Insurance 410-914-5467 www.InsureWithFuller.com www.InsureWithFuller.com [email_address] We’ve got you covered. It’s our true blue promise. Contact Information

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