Three reasons you may want to take out a whole life insurance policy

Consumers who are purchasing life insurance need to choose between a term life or whole life insurance policy. At Fuhriman Insurance Agency, we offer whole life insurance to consumers in Boise, ID.

Whole life insurance might be the best option for you depending on your particular situation. The following are three reasons you may want to take out a whole life insurance policy. 

Whole life insurance policies build cash value over time.

If you take out a term life insurance policy, you don’t get anything back from the money you put into premiums unless you die during the policy term.

On the other hand, a whole life insurance policy accumulates value over time. Whole life insurance is a long term investment rather than just a temporary safety net in the event of an unexpected death. 

The death benefit provided by a whole life insurance policy is guaranteed. 

Not matter what happens, you are guaranteed a death benefit when you pass away as long as you continue to pay your whole life insurance premiums. Also, this death benefit will not be subject to taxes. 

A whole life insurance policy will not expire. 

You need to renew term life insurance when your life insurance term is up to have further life insurance coverage. Unfortunately, it can be difficult to renew a life insurance policy as you get older.

With whole life insurance, your policy will never expire and remains active for the rest of your life. 

We’re here to help if you have questions about our whole life insurance policies in Boise, ID. Contact us at Fuhriman Insurance Agency to learn more.

Do I need life insurance if I’m not married

The question of the part that marriage plays in the need for life insurance is one that should be considered. Whether or not people depend on you is not contingent on your being married. When considering life insurance, the most important consideration is what will happen to anyone who counts on you if you were to die without having life insurance. The experienced staff at Fuhriman Insurance Agency in Boise, ID help their customers to make informed decisions when it comes to insurance. 

If you have no dependents, have no debt, have the assets to cover those debts and have prepaid your final expenses, you may not need life insurance. This can be true for persons of any age who fit these criteria. For everyone else, there are some things that need to be considered.

  • What is your overall financial condition?
  • Do you have assets? 
  • Do you have people who depend on you for their support? 
  • How long would the support need to continue after you are deceased? 
  • Do you have a mortgage or other debt? 
  • Are your final expenses prepaid or is there money to pay them? 

Marriage is a legal contract and it makes your spouse the beneficiary of your estate and your life insurance in most cases. You may be in a relationship that is not marriage but where you want to protect your partner and make sure they are cared for. You may have dependent children even if you are not married and you may want to leave a legacy to any children you may have even if they are not dependent on you for support. 

Whether or not you are married has little or no effect on the need you may have for life insurance. How much you need is something that you can discuss with the  Fuhriman Insurance Agency in Boise, ID. We have the knowledge to help you. Give our office a call or stop by and discuss your insurance needs. 

 

 

Why life insurance is important even if you are young and healthy

When is the right time in life to buy a life insurance policy? Most people think that life insurance is only something that older people, with families and children, have to carry. However, the Fuhriman Insurance Agency serving Boise, ID would like to inform you that a life insurance policy is a good thing to have at any age.

When you are young and starting out, chances are you feel so healthy that you are practically immortal. But the sad truth is that death can come for us all at any age, by accident or a sudden onset of a fatal disease.

Even if you are young and single, a life insurance policy can help with your final expenses and pay whatever debts you are carrying. The payout and the corresponding premiums do not have to be especially large.

The more you progress in life, the more life insurance becomes important. When you get married, start having children, and take on the responsibility of owning a home, a life insurance policy can not only help whatever loved ones you leave behind should you pass away, it will pay off even more debts that you have incurred.

Thinking about life insurance can be a difficult thing when you are young. It means that you have to acknowledge your own mortality, an unpleasant thing to contemplate. However, life insurance can also bring peace of mind. When you know your loved ones will be taken care of should you pass on at a young age, you will have one less thing to stress over.

For more questions about life insurance, feel free to contact the Fuhriman Insurance Agency, serving Boise, ID.

 

Tips for Life Insurance with a Pre-Existing Condition

If you have a medical condition and live in the Boise, ID area, you may want to connect with the Fuhriman Insurance Agency to discuss how to get life insurance.  While a pre-existing condition doesn’t mean you’ll be denied life insurance, it can delay the application process and create obstacles.  Review these helpful tips to reduce the time it takes you and your agent to find the best insurance policy to fit your needs.

  • Do your research to gather all information on your condition, which needs to include your medical records with current and past treatment, lab results, and medical visit notes.
  • If your health has improved significantly or if you’ve changed your lifestyle to live healthier, have your physician write a letter describing the improvements.
  • Be completely open and honest with your agent about your condition.  Remember that the agent is on your side and there to help you find the best life insurance to fit your needs.
  • If you have not had a recent medical exam, get one because life insurance companies can give you a better rate the more they know about your condition.
  • Communicate with your physician to make sure when the insurance company attempts to reach the provider that they are accurate and timely with their response, so the process is not delayed.
  • Work with an agent to choose the best insurance policy type because there may be some limitations that will depend on your condition. 

Fuhriman Insurance Agency

Life insurance policies can be confusing and frustrating if you have a pre-existing medical condition.  You don’t need to go it alone because there is expert help for you.  If you’re looking for an agent in the Boise, ID area, contact an experienced and trusted Fuhriman agent today.

Is Age A Factor When It Comes to Life Insurance In Boise, ID?

Life events such as getting married, having children, and starting a business help in determining whether you need life insurance. However, Fuhriman Insurance Agency, we recommend that you get an insurance coverage before these events occur. Generally, life insurance caters for acquired early in life attracts lower premiums.

Thinking that perhaps you’re too young to get insurance only causes you to procrastinate. It never ends well. Buying life insurance coverage when you are young can save you from life uncertainties financial problems.

Why it’s cheaper

After receiving an application, the insurer considers several factors before settling at a premium rate. Top on the list is risk. The eventual risk of a life insurance client is dead. Sure, everyone will die eventually. However, it follows that younger applicants are less likely to die when compared to older ones.

Remember that when the insured dies, the insurance company must pay. Hence, the focus is on reducing risk by ensuring that a death due to age is out of the way.

Another way to look at risk is the period of time that the insured holds the policy. Holding the insurance plan for a long time translates into more finances for the insurance company. And, being young means one has fewer health complications so the insurer can expect fewer claims.

Get life insurance during your youth

Once you purchase a life insurance coverage when young, it gives you security. In case you have major complications such as cancer, HIV, heart disease, and other chronic conditions later in life, insurers may shy away from dealing with you.

You want to avoid finding yourself in such a situation. Certain life insurance caters for procured when young come with provisions allowing you to tap into its benefits regardless of your health situation.

Age is a factor when it comes to buying life insurance. To keep your premiums low, purchase a premium while in your mid-20s. Youth and health are your strongest bargaining power. Let Fuhriman Insurance Agency, Boise, ID become your solution for life insurance coverage.

The Benefits of Getting LIfe Insurance While Young

Young adults who are clever make a good financial decision when they get life insurance while young. Insurance premiums for younger people are lower in general. Term life insurance is very reasonable at a young age. If a young person does not have any beneficiaries that they want to protect with life insurance proceeds, having a life insurance policy to cover funeral expenses is a courtesy to other family members that would otherwise have to pay for the funeral. There is no need for young people to be intimidated about life insurance decisions. Helpful professional advice is available from the agents at Fuhriman Insurance Agency, serving Boise, ID and the surrounding area.

Choosing whole life insurance is a good idea because it is an investment with a cash value that increases over time. This can come in handy as a source for borrowing funds later in life if the need arises.

Having life insurance in place helps when a young person becomes older. When life changes occur, the insurance may be adjusted in light of the new circumstances. Some of the things that are happy changes include getting married and having a baby. These are good times for a life insurance review to increase coverage to protect the ones you love.

Creating good financial habits early in life pays off significantly later in life by the power of accumulating wealth with small financial contributions over a long period of time. For example, whole life insurance policies can be structured to reach paid-up status at a certain age. In this way, the life insurance becomes a valuable asset that continues on without needing to pay any further insurance premiums after a specific date.

Life insurance can also be designed as part of retirement planning. Some policies have an option to pay out the insured person if they do not die before a certain age. In such a case, the beneficiary of the life insurance proceeds is the insured person, not their heirs.

If you are a young adult, you should talk with an agent at Fuhriman Insurance Agency in Boise, ID to get a quote for your first life insurance policy. You will be glad you did.

Young and Single – Why Life Insurance Now?

There is an interesting aspect of life insurance coverage in Boise, ID that many people don’t take advantage of when they can. Buying a policy when young and healthy is always going to be far less costly then when older. It’s based on a very simple principle that, according to the Fuhriman Insurance Agency, risk goes up the older one gets. So, a 40-year-old buying a term life policy is never going to be able to get the same coverage pricing as a 21-year-old. However, many folks think they should only be considering life insurance once they are seriously involved or married or raising kids; the logic is stuck on the idea someone already has to be around aside from the insured to make the policy worthwhile. In fact, by purchasing a policy when young, a customer locks in one of the best coverage pricing points possible. And since term life insurance can be maintained on single term policies for up to 30 years at a time, it starts to make real sense when one does the numbers with a lower price point versus starting later at a higher premium price level when older. And this same benefit applies on life insurance whether a customer is in Boise, ID or anywhere else in the U.S.

So if you’re thinking there’s no real reason for you to have life insurance because of being single and young, think again. Securing a policy now through a reputable insurance broker like the folks at Fuhriman Insurance Agency could provide a huge cost advantage versus later on when risks are naturally higher. Don’t get caught up in mistaken assumptions. Call the Fuhriman Insurance Agency staff to day to find out what a simple term life policy can do for you in the long term.

 

What Does Life Insurance Really Cover?

Life insurance may be one of those topics many people avoid. However, it can provide great peace of mind when an individual considers the needs of their family members. The beauty of a life insurance policy is that an individual can arrange it to meet the specific needs they feel require special attention. Are there minor children to think of? What about debt resolution? Is there a desire for a charitable donation? At Fuhriman Insurance Agency in the Boise, ID area we can help you make these decisions by providing information and life insurance policies that meet the needs of both you and your family. You’ll feel better just having the knowledge you need. From there you can make your choices and know that you’ve prepared your family for any eventuality. If you already have life insurance, it also pays to review it regularly. Term or universal policies may not keep up with the changes in your life. Come see us today and we’ll help you work it all out.

Here are a few questions to ask yourself:

  • Is my life insurance policy up to date?
  • Does it reflect the needs of my growing family?
  • Does it reflect changes due to divorce as well?
  • Are my debts like retail debt, mortgage, and medical bills accounted for, and would my policy cover these?
  • Have I moved or changed work places?
  • Have I already made final arrangements, or is this an expense my family will have to consider?
  • Do I want term or universal life insurance?
  • What other arrangements can I make with my life insurance policy?

We’re pleased to serve the Boise, ID area and our agents at Fuhriman Insurance Agency have the resources to assist you in updating your policy. Call or visit today.

Does Everyone Need Life Insurance?

Does everyone need life insurance, a question that is often asked. The short answer to this question is no. Not everyone needs to have a life insurance policy. For those that live in the Boise, ID area, the agents with Fuhriman Insurance Agency can help.

The reason that not all people need a life insurance policy is that not all people have someone that needs money or that is going to need to be taken care of when they pass. Those that do not have children, do not have family that will inherit a large amount of debt, or that have already paid their final expenses and will not need the policy to pay for them do not benefit much from a life insurance policy.

If you have children however that are either under the age of 18 or that are going to inherit your debt or have to pay for final expenses, you can certainly benefit from a policy. Similarly, if you have family members that are going to inherit your debt or have to pay expenses you may want a policy. Life insurance does not benefit only the friends and family of the deceased, however.

If you take out a policy that has partial payouts in the event of serious injury you may be able to benefit from your death. If you have a desk job that is a low risk you may not want to spend the money each month on a policy that you will likely not use. It is always helpful to have a professional answer any questions that you may have and for those in the Boise ID area, the agents with Fuhriman Insurance Agency can help answer your questions and get your policy sorted out if you truly need and want one.  

3 Important Things to Consider When Buying Life Insurance

Picking the right life insurance coverage can be a daunting project. Coverage options are varied and have lots of moving parts. It can be tempting to pick the least expensive coverage and forget about it, but it’s worth taking the time to understand your options and how they can impact your dependents after your death. Broken down into the simplest terms, there are three primary things to consider when buying life insurance.

1) When to Buy: The younger and healthier you are, the lower your premiums are likely to be. The downside is that you may end up paying more even with lower premiums with the extended period of time paying for them. If you plan on building a family, weight the benefit of a lower premium with the time you anticipate paying that premium to find the sweet spot.

2) How Much to Buy: The total value of your insurance coverage can be determined in two basic ways, needs-based or income-replacement. Needs-based takes into account the unique requirements of your beneficiaries while income-replacement is a simple calculation based on your annual income. Needs-based can provide more personalized solutions, but it does take more effort to calculate.

3) What to Buy: There are different types of life insurance policies available, the most common being term and cash-value (or permanent). Most go with term life insurance because it’s simple to understand and often has lower premiums – you simply pick your coverage amount and the duration coverage is in effect. Cash-value insurance can be a better option for some, but is a complex subject. It’s best to consult a professional to help you understand the way this investment-style insurance policy functions.

To help you navigate life insurance options and make the right decision for you and your family, contact Fuhriman Insurance Agency today for an in-depth discussion of their coverage options and a quote that suits your budget.