Your life is unlimited.
But is your life insurance adequate?
Did you know?Having the right life insurance coverage just may be the single most important financial decision you make. Consider these important facts:
1. Experts recommend that your life insurance coverage should equal 10-15 times your income. One way to estimate your own needs is to use the DIME approach – DIME stands for debt, income, mortgage and education – four criteria that help to estimate the total coverage you’ll need.
2. Life insurance will probably cost less than you think. According to research, as many as 8 in 10 people actually over overestimate the cost of term life insurance, and younger generations overestimated by as much as 213%.
3. It’s better to secure life insurance long before you need it—because the cost only increases with time. Your age and health will impact the cost of your premiums accordingly with most insurance underwriting processes. If you know you need more life insurance, the time to secure it is now.
Source: Huffington Post
Maritime Life has been protecting loved ones for over 50 years and has become synonymous with being there for your family when you need us the most. Below we have provided the major plan types available, each designed to meet a certain need:
Sign up for a free consultation with a friendly Maritime Life agent:
Average Coverage Levels
$1 Million Term LifeMale, 41 years old, healthy non-smoker
As low as $206 per month
$500K Term LifeFemale, 55 years old, moderately healthy non-smoker
As low as $179 per month
$1,300,000 Term LifeFemale, 28 years old, healthy non-smoker
As low as $150 per month
How life insurance works
- You select an amount in keeping with your present needs
- Do the necessary medicals
- Pay an initial premium
- Your premium never increases
- In early years, your contribution is greater than the cost of coverage and conversely, it is much smaller in the later years. So, in the early years a reserve is created, off-setting the growing cost in later years.
If you become critically illShould you opt for the benefit, you will receive a lump sum (or part thereof) to take care of any of these illnesses:
- Alzheimer’s disease (dementia)
- Aortic surgery
- Benign brain tumor
- Cancer (life-threatening)
- Coronary artery bypass surgery
- Heart attack
- Heart valve replacement
- Kidney failure
- Loss of limbs
- Loss of speech
- Major organ failure on waiting list
- Major organ transplant
- Motor neuron disease
- Multiple sclerosis
- Parkinson’s disease
- Permanent disability
- Severe burns
- Stroke (cerebrovascular accident)
- Provides peace of mind that your family will be protected if you unexpectedly die
- Provides funds for both spouses in retirement years
- Provides sources of cash for emergencies and opportunities
- Acts as collateral for your debts and loans
- Helps preserve your estate for your heirs
- Guarantees income for loved ones
- Provides funds that can be used to cover funeral bills, medical bills, etc.
- Provides funds that can be used to wipe off debts and loans such as a mortgage
- Provides funds that can be used to cover probate, legal and executor fees