This may be the most often asked question among people considering life insurance, and it points out two different approaches to life insurance. Which one is right for you depends on your circumstances and goals. Our goal at Focus Insurance is to help those living in or near Eureka, MO, make the best insurance and other financial decisions.

Term versus Whole Life Insurance

Most people buy life insurance primarily to cover the financial needs of their spouse and dependents in the event the worst happens. They often buy coverage to ensure financial resources are available for the dependents to become adults and to keep their spouses from struggling financially.

Both term and whole life insurance can help address those goals. However, term insurance is similar to your auto or home insurance in that you buy coverage in a specific amount for a particular number of years. It provides a death benefit only during the policy period and then goes away, often not paying a benefit.

Whole life insurance, on the other hand, remains in force for life as long as you pay your premiums, so it always pays a benefit. It also builds cash value, like a savings account, making it more expensive than term insurance. Term insurance is sufficient for most, but whole life can help those with greater financial resources or those with certain obligations, such as disabled children who may need financial assistance.

Working with the Focus Insurance Team

The term versus whole life insurance choice depends on your circumstances and goals. Our Focus Insurance team, serving the Eureka, MO, area, can help you make decisions that best meet your family’s needs. Call us today at (636) 391-3900 to schedule an appointment, or click here for an online quote.

Do You Need Additional Life Insurance Beyond Your Employer’s Plan?

Life insurance often seems like a subject most people would rather not think about, yet its importance cannot be overstated. After all, life is unpredictable; an unexpected event like an accident or illness could happen to anyone at any age. To provide peace of mind, many employers offer life insurance plans to their employees. If you’re an Eureka, MO resident contemplating whether your employer’s life insurance is adequate, here’s a helpful breakdown.

Do You Have a Family?

If you’re single, your employer’s life insurance likely provides enough coverage. However, if you have a family, you may need to pay extra for additional coverage or consider purchasing a separate policy. Families depend on your income for support, and the loss of that income due to an unexpected death can lead to financial hardship. Therefore, it’s crucial to ensure you have sufficient life insurance to cover ongoing expenses such as mortgage payments and bills. Any decision on coverage amount should take all potential costs into account.

While the life insurance offered by employers is generally enough for many, individuals with families or those in their later years might consider securing additional life insurance to meet their needs. If you’re considering purchasing more life insurance beyond what your employer offers, Focus Insurance is here to help. Serving Eureka, MO, and its surroundings, we offer comprehensive and reliable insurance solutions. Contact Focus Insurance today – we will provide you with a quote and explain our range of offers, ensuring you’re fully covered when it comes to life insurance.

As a young person fresh out of college, you may think you do not need life insurance. Your primary focus may be finding a good job and establishing your career. However, getting life insurance when you’re young could be a smart investment for your future. Here’s how a life policy from Focus Insurance in Eureka, MO can benefit you after college graduation.

Pay Off Student Loans

Like many college students, you may have sponsored your education with private student loans. If a family member cosigned for your loan, they will be responsible for repayment if you pass on unexpectedly. Life insurance can be used to repay this debt, so no one has to bear this financial burden after you’re gone.  

Cheaper When You’re Young

Life insurance is cheaper when purchased at a young age. You can lock in a good price after graduating from college and keep your policy active for the future when you get married and start a family. Your Focus Insurance agent can guide you to the right policy to meet your needs. 

Financial Security

If you’re married or already have a family, life insurance offers financial security for your spouse and children in the event of your sudden demise. No one knows what the future holds. You can, however, prepare for the unexpected with a life insurance policy so your family will have financial support to carry on. If you’re single, a life policy can help support elderly parents or younger siblings after you’re gone. By planning, you can know that those you love will be cared for after you’re gone.

Where to Get Life Insurance

To learn more about life insurance options and costs, give your Focus Insurance agent in Eureka, MO a call.  

The amount of life insurance you need will vary depending on your individual circumstances. It is vital to consider things like your current income, the number of people who rely on you financially, and any debt you have. In general, we at Focus Insurance recommend that your life insurance policy should cover at least ten times your annual salary for people in the Eureka, MO area. This should ensure that your family’s financial needs are handled in the event of your passing. 

Investing in future expenses like a mortgage or college tuition for children is also important. When assessing how much life insurance coverage you need, it’s best to consult with an expert who can evaluate your situation and make tailored recommendations for your specific needs. 

Whole life insurance is designed to provide coverage for the policyholder’s entire life, while term life insurance provides coverage for a specific period. Whole life insurance policies typically have higher premiums but come with additional benefits such as a cash value component and the ability to build equity over time. Term life insurance policies generally have lower premiums but only provide coverage for the duration of the policy term. Whole life policies are usually better suited to those looking for lifetime protection, while term-life policies may be more suitable for people who only need short-term coverage or prefer more affordable premiums.

Overall, the amount of life insurance you need is highly individualized and depends on many factors, such as current income, debts, dependents, and future expenses. For more tips, or if you have any questions about your policy, call us at Focus Insurance today. We are proud to serve the Eureka, MO area.

If you have people who depend on you, you need to consider life insurance. It should be a top priority if you haven’t gotten any yet. At Focus Insurance in Eureka, MO, we are independent insurance agents who can help you to find the right life insurance products for your life and your wallet. 

How much life insurance do I need?

No one figure is going to fit every person. Several factors have to be considered to determine how much life insurance you need. 

• How much do you earn a year?
• How many people depend on you?
• What is the age of the people who depend on you?
• How many years do you need to provide for?
• What percent of their yearly income do you need to provide?

After all of these questions have been answered, you can determine the dollar amount of life insurance you need. 

Is the life insurance I get from work enough?

While the dollar amount may be enough, the security is not enough. What happens if you change employers? Will you be able to take your life insurance with you?  What if the business goes under? You need to know that your life insurance will be there for your family if required. 

Can my life insurance be canceled?

Yes, it can be canceled; the most common reason is the non-payment of your premium. If you have difficulty paying your premium, call your insurance company to see if they can work with you. Your policy can also be canceled if it is discovered that you were untruthful on your application. 

Contact Focus Insurance in Eureka, MO when you have questions about life insurance. We are happy to provide the benefit of our knowledge and a no-obligation quote. 

Survivorship insurance is designed for very specific purposes. It is important to understand all of the details in order to determine if it is right for you. Focus Insurance is here to help you with this decision if you live near the Eureka, MO area.

When it comes to life insurance, there is an abundance of options from which you can choose. Life insurance is not a one-size-fits-all product. You need to choose coverage based on your specific needs. While most people are aware of the differences between whole life and term life, many are not aware of the benefits provided by survivorship life insurance.

How It Works

Survivorship insurance is essentially life insurance that covers two people. Both people on the policy must die before any benefits are paid.

If you have survivorship life insurance, no money is paid when you die. Instead, your survivor continues to make the premium payments. Once the survivor dies, then the benefits will be paid to a beneficiary.

Why Invest in Survivorship Life Insurance?

Since the policy will only pay once both parties named on the policy have died, there are specific purposes for the use of those benefits. The benefits will provide your beneficiary with a way to pay for estate taxes without having to liquidate any assets. It will provide financial support if you have a child with special needs. You can leave a legacy by donating the proceeds to a charitable organization that is important to you.

These are just the basic details about survivorship life insurance available in Eureka, MO. If you have questions and are interested in learning more about survivorship life insurance, feel free to reach out to the experts at Focus Insurance. Give us a call today. We are here to guide you through the process of choosing the life insurance products that best meet your needs.

No matter where you live, chances are you must purchase some form of mandatory insurance. But one type of insurance that’s often overlooked – but provides ample benefits – is life insurance. You’ve probably heard some of the myths about life insurance – it’s too expensive, healthy people don’t need it, it’s not necessary if you don’t have dependents. Well, you’ll be happy to know that’s not the case at all! In fact, people of all ages benefit from life insurance.

Understanding how life insurance works can be confusing. Don’t do it alone! Contact Focus Insurance in Eureka, MO to set up an appointment with a friendly and knowledgeable agent. With their guidance and expertise, you’ll find a life insurance plan that fits you and your family’s unique needs! In the meantime, keep reading to learn more about life insurance and some of its many benefits.

In general, life insurance consists of two main categories: term life insurance and whole life insurance. Under these two categories, there are various policies that offer different levels of coverage. Want the freedom to change your policy every few years? Consider term life insurance. Often deemed the most affordable option, term life insurance enables you to adjust your policy depending on your current needs. It’s simple and straightforward, making it an ideal option for first-time policy buyers. If you’d prefer a more comprehensive policy, whole life insurance may be a better fit for you. Whole life insurance offers additional incentives such as accumulating cash value, including others under your policy, and a death benefit.

No matter what policy you choose, life insurance provides protection and peace of mind. Call or stop by Focus Insurance in Eureka, MO to discover your perfect plan today!

Life insurance is something that many individuals do not realize they need. In actuality, a good life indemnity policy can help your loved ones take care of financial responsibilities that you leave behind in Eureka, MO. Is your life insurance plan still valid, though? Focus Insurance can help you understand your policy.

Does a life insurance plan last forever?

A life insurance policy does not necessarily last forever. A whole indemnity plan is valid throughout the entire life cycle as long as you pay the monthly premium in a timely manner. Term life insurance, on the other hand, only lasts for a period of time. 

Many term indemnity plans cover the policyholder for five to ten years. There are other options that provide insurance for up to 20 years, which may come with higher monthly premiums. 

Why do people choose term over whole life insurance?

Whole life insurance tends to be more involved and expensive than a term indemnity policy. Whole life insurance may require you to undergo a physical exam by a doctor in Eureka, MO. 

Term life insurance is oftentimes granted after answering a few questions. Thus, individuals with health conditions that would disqualify them from obtaining a whole life insurance plan tend to gravitate towards term indemnity coverage. Young adults may also see more benefits in term coverage over whole life insurance as they may get more coverage at a cheaper monthly premium rate. 

Is your life insurance plan still valid?

Your life insurance policy may not be valid if you have term coverage. An agent at Focus Insurance can help you understand your current plan and determine if it is time to purchase a new life insurance policy. Call Focus today to get started with a quote for coverage.

Life insurance is not very well understood. Many people aren’t sure of how this insurance works and who needs it? As a retired person, you may feel that it’s too late to invest in life insurance but this isn’t necessarily true. Life insurance can be beneficial to almost anyone. The premise of this type of insurance is quite simple. The ABC’s of how life insurance works are simple as well. Focus Insurance of Eureka, MO wants state residents to understand how life insurance works and the benefits associated with it that are available to people of all ages. 

What is Life Insurance?
Life insurance is insurance coverage that pays your beneficiaries a lump sum of money when you die. This is called a death benefit. The money can be used in any way that your beneficiaries see fit. It is a contract between you and the life insurance company. 

What Are Common Types Of Life Insurance? 
There are four basic types of life insurance. You can invest in whole life, term life, universal life, and variable life insurance. The most commonly purchased life insurance policy is whole life. Whole life insurance is designed to cover the entire life span of the policyholder if the premiums have been paid. Beneficiaries receive cash benefits upon the policyholder’s death. Term life insurance covers a policyholder for s specific number of years or time. If the policyholder dies within that specified period of time, the beneficiaries receive a cash/death benefit. Variable life insurance is life insurance with an investment policy. This insurance policy has both cash value and investment options. It works like a mutual fund. Universal life insurance has a cash value that grows according to the interest rate set by the insurance company. Focus Insurance of Eureka, MO is committed to helping you understand life insurance and its benefits and we’re also committed to helping you choose the best policy for your situation. Regardless of whether you’re a retiree or just starting out, life insurance can create peace of mind. Give us a call. We’re here to help. 

Like most types of insurance, life insurance is not one size fits all. It needs to be tailored to your particular situation and needs. Life insurance is affordable and it provides a very important type of protection to you and your family. For most people, this is a difficult discussion but a necessary one. Life insurance should be a part of overall financial planning and having an insurance agent who knows your situation and whom you trust is vital. At Focus Insurance in Eureka, MO, our clients are like family and we are experienced in helping them to plan for their future. 

In order to determine how much life insurance you need, you must answer a few questions. Who depends on you to provide for them? How much debt do you have? Have you taken care of your final expenses? Do you plan to provide a legacy for anyone? Once you have answered these questions, you will have a better idea of how much money will be required. 

If the people who depend on you include young children, you need to provide for them for a longer time. At a minimum, it is suggested that you have life insurance to equal ten times your yearly income. If you have a mortgage, this is a debt and should be added to the amount you must have. Depending on your age when you start buying life insurance, you may have to revisit the amount that you have purchased several times to keep it up to date with where you are in life.  

If you haven’t already made plans for your family’s future, what are you waiting for? There is no time like today to give the office of Focus Insurance in Eureka, MO a call to sit down and discuss this important coverage. It is never too early or too late to think about life insurance.