703 North Court Street
P.O. Box 446
Medina, Ohio 44258
(330) 725-4543
(800) 589-8333
Fax: (330) 723-2500
info@hunterins.com
office hours: 8:30-5 M-F
Evenings & Saturdays by appointment
Life Insurance
No one can replace a spouse, a parent, another loved one, or a key business associate who has passed away, but one aspect of a person’s passing can be addressed in advance. The potentially devastating financial impact of an untimely death can be avoided with careful life insurance planning. To those left behind, life insurance provides the funding to meet obligations or carry out plans that might otherwise be interrupted or derailed.
Personal Planning
In a family, life insurance creates an instant estate, offers liquidity, provides for debt repayment, assures children of a college education, and allows surviving family members to afford the lifestyle they lived prior to the untimely passing. The untimely death of a family member is heartbreaking, but inadequate funds can make for a tragedy. The instant estate created by life insurance eases the financial aspects of the loss.
Business Planning
In business planning, life insurance secures loans for banks concerned about the impact of the ill-timed death of key persons in the company. When key people die unexpectedly and without proper planning, a business can suffer and may die soon after. Life insurance makes survival of the business possible. Life insurance can also fund the buyout of a deceased business partner’s ownership interest in that business when that partner’s heirs want and need cash to live on and not shares of stock.
Estate Planning
Estate taxes, a reality to those with larger estates, require liquidity to pay estate taxes upon death. If there is not enough liquidity in the estate, the survivors of the deceased have to liquidate assets at the least opportune time to pay those taxes. Life insurance provides that liquidity.
Social Security Benefits
Social Security can be a significant source of funds for surviving family members. To determine the level of benefits available to you and your family, the Social Security Administration offers a calculator.
Time for a Check Up?
We recommend periodic financial checkups to be sure your family or business financial needs will be met in the event of an untimely loss of a member of your family or your business. Whether your life insurance needs are straightforward or complex, Hunter Insurance is prepared to assist you in achieving the financial security you seek. As independent agents, we have a number of solid, reputable life insurance companies available to address your particular needs.
For More Information
For more information on life insurance, please see the Insurance Information Institute or contact us.