Life Insurance in Kentucky
This is the time to consider the importance of purchasing life insurance from an agent representing Sharp Insurance & Financial Services. This Ashland, KY based insurance agency provides the information you need to make an informed decision as to the amount of life insurance you need to protect your loved ones in the event of your premature death.
Life insurance is one of the financial products that is a must have for everyone earning an income. Your income is your largest asset throughout your lifetime, and the loss of income brought on by your death can cause an unnecessary financial hardship for those you leave behind. A qualified insurance intermediary licensed in the State of Kentucky can help you determine the value of:
Determining the Correct Amount of Life Insurance
When determining the amount of life insurance needed to protect your loved ones, there are two generally accepted methods:
- Human Life Value Approach – an approach based on the amount of income needed to be replaced (to age 65) should death occur today. It is typically calculated as current income multiplied by the number of years to retirement multiplied by inflation.
- Cost Analysis/Needs Approach – this approach looks at your budget and expenses and determines what amount will be needed for short, intermediate, and long-term financial needs such as bereavement, retraining, and transition to work for a non-working spouse, to pay off debts, and etc.
Meeting Your Life Insurance Needs
Meet your needs by meeting with a Sharp Insurance & Financial Services life insurance agent in Ashland, KY. The agent, duly licensed in the State of Kentucky, can provide you a rate quote based on your age and other factors. An agent can also assist you in determining which type of insurance is appropriate for your needs and present financial situation.
This policy includes term insurance, referred to as temporary insurance, which provides protection up to a specified term of years. It is a lower cost option and the most affordable for those starting out in their careers. You may also consider permanent insurance, such as Universal Life and Whole Life insurance, that also has a cash accumulation feature not available with term insurance. This cash value is yours to use during your lifetime and may also be applied to other important financial priorities such as funding college or retirement.
Meet today with our insurance professionals and get your life insurance quote. If you have any questions or concerns, stop by our office or give us a call.