Finding the Right Life Insurance for Employees at Pacific Life in Newport Beach
As an employee at Pacific Life in lovely Newport Beach, securing your family’s financial future is a top priority. Life insurance may seem complex, but it’s crucial for providing peace of mind, especially when unexpected events arise. Let’s simplify this journey together so you can choose the right coverage.
Why Life Insurance Matters
- Offers a tax-free death benefit to loved ones.
- Covers essential expenses, such as:
- Funeral costs (~$7,000-$12,000).
- Mortgage and other debt payments.
- Children’s education and living costs.
Types of Life Insurance You Should Consider
| Policy Type | Key Benefits | Who It's Best For |
|---|---|---|
| Term Life Insurance | Affordable premiums and coverage for 10 to 30 years. | Young families and budget-conscious individuals. |
| Whole Life Insurance | Lifelong coverage with cash value accumulation. | Seniors and those seeking stability with lifelong benefits. |
| Indexed Universal Life (IUL) | Flexible premiums and cash value tied to market performance. | Individuals planning for retirement or legacy. |
How to Choose the Right Coverage Amount
Use the DIME formula to determine your needs:
- Debt: Total outstanding debts.
- Income: Annual salary multiplied by years of support needed.
- Mortgage: Remaining balance on your home.
- Education: Estimated costs for your children's schooling.
Start Your Life Insurance Journey Now
Choosing the right life insurance isn’t just about protecting your family; it’s about building a secure future. The faster you take action, the easier it will be to secure affordable rates, especially while you’re healthy.
Disclaimer: Please consult a customer service representative for the most accurate information regarding policies and coverage.
