Is Life Insurance Worth It?

By Michelle Davulis
October 9, 2023

Is Life Insurance Worth It?

Yes, you do, at every stage of life. But with so many different types of life insurance available, it can be tough to know where to start.

In this blog post, the MLD Agency, led by Mark Dupre with over 4 decades of life insurance experience, breaks down the basics of life insurance and helps you identify the type and amount of coverage you need. Let’s get started!

 

 

why you need life insurance even if you think you don't YouTube video
Young adults need Illinois life insurance

Why life Insurance is important at every phase

With every stage of life comes a different stage of wealth and dependents. Even as a young adult, it is important to have life insurance; it can help set you up for financial security later in life, including retirement.

For awareness, watch Why you need life insurance (even if you think you don’t) to learn more details.

Below are the phases of of life and how they pertain to the type of life insurance you will need.

 

  • Young adults: Life insurance can help pay for final expenses and outstanding debts, such as student loans or credit card debt.
  • Newlyweds: Life insurance can help protect your spouse if you were to pass away unexpectedly.
  • Parents: Life insurance can help replace your lost income and provide for your children’s needs if you were to die.
  • Empty nesters: Life insurance can help pay for your retirement expenses and leave a legacy for your loved ones.
  • Retirees: Life insurance can help cover your final expenses and any outstanding debts you may have.

Unlocking Financial Security with Life Insurance

Now that you understand why you need life insurance it’s important to understand what life insurance does. Yes, we all know it covers funeral expenses but there is so much more the right life insurance policy can do for you and your family. Again, at each life stage, it is necessary but the type of coverage will depend.
In this quick video Mark will go over how the right life insurance uncoks financial security in the present and future. It not only protects your dependents but you can use benefits not used later on or invest. Knowing what benefits you can sign up or will help you make an informed decision.
Unlocking financial security with the right life insurance in Illinois
MLD Agency happy Medicare clients in St. Charles IL

Let’s dive into the types of life insurance available

After becoming aware of why you need life and the what it can offer it’s time to talk about what types of life insurance you can enroll in. This video is only 5 minutes and will give you a brief overview of term, whole, and permanent life insurance including the pros and cons of each.
Picking the right type of life insurance for you and your family is key to financial freedom and security plus you never want to much or to little.
Types of Life Insurance by Expert Illinois agent
MLD Agency happy Medicare clients in St. Charles IL

Universal Life Insurance, the most misunderstood

Universal life insurance has been around for a long time but it is still the most misunderstood of all life insurance policies. This type of insurance combines an investment opportunity with standard benefits and is flexible and permanent. To learn more make sure you watch the YouTube video.
Universal life insurance, the most misunderstood. Explained by Illinois local agent.
Universal life insurance benefits for couples

Building Your Own Life Insurance Policy

Once you fully understand the why, what, and how life insurance can help you it is easy to start building a policy that meets all of your needs with term and permanent combination policies.

In this episode of Mondays with Mark, learn how these combo plans are crafted and how to craft one that works for you.

Watch Build Your Own Life Insurance Policy with Permanent and Term Life Insurance.

combo permanent and term life insurance explained by Illinois insurance agent
Creating financial wealth with the right life insurance by expert Illinois agent
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