While life insurance can seem like a daunting purchase, it doesn’t have to be! Life insurance acts as an extra layer of protection, providing you with the peace of mind knowing everyone you love will be able to continue their current lifestyle in the event of your sudden passing. Once you know the basics, you’ll be able to make an appropriate life insurance purchase decision. Compiled is everything you need to know about the two policies:

Term Life Insurance

• You can receive protection for a specified amount of time (5 years, 10 years, 30 years, etc.) at an affordable rate.
• If you are underinsured and want to receive supplemental coverage, this is a smart purchase for you.
• If you are looking to protect your loved ones from taking on your debt after your passing, this policy would provide you with that peace of mind.
• Term life insurance is more affordable than whole life insurance.
• You will likely not be required to take a medical exam.
• It does not build cash value.
• Your coverage will end once the policy expires.
• The premiums may increase.

Whole Life Insurance

• You will receive lifetime protection that accumulates cash value over time.
• This is the right policy choice for you if you have the need for long-term insurance or want to accumulate cash value.
• The premiums do not change.
• You will pay higher premiums than with a term life insurance policy.

Contact Sackett & Associates Insurance Services for all of your Sonoma County life insurance needs. We can help you determine whether a term life insurance policy or a permanent life insurance policy would best suit your needs.

Finding a life insurance policy that is appropriate for personal goals and concerns can seem challenging. By understanding the differences between the options, it is easier to make a decision regarding the plan that is best for individual goals.Term Plans

A term life insurance policy is designed to address concerns regarding accidental death or a death that occurs within a set time period. Generally, the cost of coverage is reasonable; however, there are no options for investing and the payment is not provided if the term expires and is not renewed before a death occurs.

Whole Life Plans

Whole life insurance policies differ from a term plan because they do not expire. Furthermore, there is an opportunity to invest a portion of the premium and build up personal funds within the company. The downside of the plan is usually related to the price. Since the plan carries forward for the entire life, a payment is usually made to the surviving family members according to the details of the policy. As a result, it can cost more for the same amount of coverage.

The insurance policy that is appropriate for personal needs can vary based on several factors. To learn more about finding the right plan in Sonoma County, contact Sackett & Associates Insurance Services.

Long term care insurance (LTC) provides valuable financial support when you need it most. If you fall sick or have a major accident or need help taking care of yourself during your elderly years, this coverage provides financial assistance to cover the cost of your care. With LTC insurance, you can face your future with greater peace and security.

LTC coverage helps cover the cost of assisted living for such personal activities as bathing, dressing, eating and getting about. It can also help pay for home health services, housework, meal prep and cleanup, shopping, laundry, pet care and more.

Almost 70% of elderly people age 65 or older are expected to need some form of long term care in their lives. As you grow older and your health deteriorates, it’s not uncommon to need extra help with your care. Obtaining long term care coverage is an investment into your physical care for the future.

Learn more about long term care insurance and costs in Sonoma County, CA, by contacting Sackett & Associates Insurance Services.

Most individuals purchase their life insurance policy, continue to make the necessary premium payments and ultimately forget about it. They most certainly don’t review their policy and make any necessary changes. Unfortunately, this is a huge mistakes. If your policy was purchased a few years ago – or longer – your situation has likely changed since the beginning.

Depending on your situation, your life insurance policy may need to be increased or decreased. For example, if you recently were divorced and no children were involved, you may want to reduce your policy since you don’t have a spouse to keep financially stable once you pass. However, if you recently tied the knot and have a baby on the way, you definitely need to consider increasing your coverage.

If you feel as though you need to update your policy or would like to get a quote from another agency, contact Sackett & Associates Insurance Services in Sonoma County. We will help review your policy and ensure that any life changes are taken care of.

Long term disability insurance is one way in which you can protect your assets for the future. In the event you are injured or develop an illness that prevents you from working long term, disability coverage provides much needed income for you to live on without having to deplete your savings.

Most people do not think twice about acquiring homeowners or car insurance to protect these assets. However, getting disability coverage as you enter your middle age years is just as important as it protects your future savings. Many people try to pad their savings during the last 10-15 years of employment in order to have sufficient funds for their retirement. With disability coverage, you need not worry about an accident or illness putting a damper on your financial plans.

Most insurers have an age limit when it comes to offering disability coverage. By discussing policy options with your insurer today, you’ll have a better idea of what kind of protection you can obtain.

For more information about disability coverage in Sonoma County, CA, contact Sackett & Associates Insurance Services  today.

Life insurance is more important than most people think. Check out these two stories from people who wish they hadn’t waited to get life insurance, so you understand the real importance of life insurance.

I’m Still Waiting for Life Insurance

I thought I understood the importance of life insurance. When I got pregnant with our first child, we knew we were making the right choice to get life insurance. Everything was going perfectly until our medical exams. When the insurance agent got my results, our monthly rates suddenly jumped up to ten times the estimated amount.

It was because my cholesterol was so high: a normal part of pregnancy. The doctor said it could take months after I give birth for them to become normal again, and he was right. It’s been three months since I had our daughter, and I am still waiting for my levels to drop, so we can get life insurance. I should have gotten life insurance before I even thought about getting pregnant.

My Husband Was Right

I always thought life insurance was for older people, not me at age 24, but I should have listened to my husband. When I got pregnant, I was only 24. So when my husband suggested getting life insurance, I thought he was being ridiculous. I said we could wait, but I was wrong.

I was only 26 when his brother showed up at our house with devastating news. My husband had died, and I was left alone with a 9-month old baby and no money to pay for his funeral or support us.

For more information about life insurance in California, contact Sackett & Associates Insurance Services of Sonoma County.

The importance of life insurance cannot be measured by its cost. At the same time, knowing what factors increase life insurance prices can help you avoid the extra expense. Here are a few:

1. Smoking can lead to lung cancer and other respiratory diseases that can contribute to your early demise. For this reason, smokers pay higher life coverage prices.

2. A bad driving record will cause insurers to raise their premium due to increased risk of being involved in a fatal accident.

3. Obesity increases the risk of your dying from a number of health problems. As such, you can expect to pay more for life coverage.

4. Chronic depression can easily lead to suicide, even if you’re on medication, prompting insurers to raise your life premium prices.

5. A family history of hereditary diseases such as diabetes, cancer, cardiovascular problems, etc., that can lead to an early death will result in your paying more for life coverage.

To learn more about how you can benefit from quality life insurance coverage at reasonable costs in Sonoma County, contact Sackett & Associates Insurance Services.

Many people are aware of the argument that life insurance should be purchased for the benefit of their children or spouse. There are, however, some surprising reasons for the importance of life insurance that are often overlooked.

The ones who will rely most on your life insurance policy are those who will either end up having to pay for your expenses or who depend on you for financial support. If you have cosigners on any loans, the policy will ensure that your debts don’t end up in their laps. Another thing life insurance can do is provide for the continued care of sick or disabled people in your life or cover assisted living expenses for your elderly parents.

Businesspeople who are in joint ventures may want to get life insurance to help smooth the transition after your passing. The policy can make it easier for your partners to buy out your share.

These are just some of the surprising reasons to buy life insurance. To get the policy that will suit your budget and needs, please contact Sackett & Associates Insurance Services located in Sonoma County.

You have worked hard to create a wonderful life for your family. However, one accident or illness can quickly undo all of the hard work that it has taken to create a sense of financial security. When you have utility bills, mortgages, and car payments that are dependent on your income and your income is no longer available, you can quickly fall into a deep financial pit. Even though in a year or two you may be back on your feet, the financial repercussions of your illness may be felt for four or five years.

While many people understand how crucial life insurance is, they may be unclear about the importance of long term disability insurance. Long term disability gives you a fall back plan in case you are injured, ill, or otherwise debilitated for a longer period of time. Depending on your plan, your long term disability insurance could pay up to 60 percent of your normal paycheck. Short term disability can be activated in as little as 2 weeks after you become disabled. Although long term disability can take up to 90 days to kick in, in some cases it will continue paying you a portion of your income for years.

For more information about long term disability insurance or other insurance needs, contact Sackett & Associates Insurance Services located in Sonoma County.