SUBSCRIBE
Enter your Name and Email address to get
the newsletter delivered to your inbox.
Please include name of person that directed you to my online newsletter so I can thank them personally.
Rogelio Gonzalez, CRPC®, CSRIC™
Financial Advisor, Prudential Advisors
Pacific Northwest Financial Group
1700 SE Mile Hill Drive, Suite 264
Port Orchard, WA 98366
Phone: 360-919-4271
September/October 2025
Is Life Insurance Optional?
Everyone hopes to live a long and healthy life. But the fact is, there are no guarantees. Would your family or business survive financially if you died suddenly or your company lost a key employee? Life insurance is designed to provide for families or businesses if the unexpected happens. Life insurance protects your family or business by offering a cash benefit upon the death of the insured. Consider these key reasons for purchasing life insurance.
For Individuals
Life insurance can be used to:- Cover funeral and burial expenses. The basic funeral cost averages $10,495.* Life insurance proceeds can be used to cover expenses, leaving more of your assets intact for your family.
- Replace income. Proceeds can help your family maintain its standard of living afer the loss of your income.
- Pay for your children's college educations. With one less income, saving for college may be difficult for your spouse.
- Eliminate debt. Your spouse can use the benefit to pay off a mortgage or settle other debts.
- Consider purchasing a life insurance policy on a non-working spouse as well. If your spouse dies, the proceeds can pay for services such as child care and housekeeping.
For Business Owners
Life insurance is a funding tool that has many applications for small business owners. The proceeds can be used to:- Provide cash to help compensate for losses incurred due to the unexpected death of a key employee. The death benefit could also be used to buy out a deceased partner's interests or train a new employee.
- Attract and retain key employees with deferred compensation that's funded with life insurance.
- Provide cash to equalize an inheritance when leaving your business to one of your children.
- Fund an executive bonus plan in which the company compensates key executives for life insurance premiums and tax liabilities, enabling the valued employee to own additional life insurance.
If your business has several key employees, you might save money by purchasing a first-to-die policy. The policy covers the first person to die, then remains in effect to cover another key employee. Although the policy provides coverage to several employees, the premiums reflect that only one person at a time is covered.
*National Funeral Directors Association, 2025
752234
CONTACT US
Enter your Name, Email Address and a short message. We'll respond to you as soon as possible.
Securities and investment advisory services offered through LPL Enterprise (LPLE), a Registered Investment Advisor, Member FINRA/SIPC, and an affiliate of LPL Financial.
"Prudential Advisors" is a brand name for the propriety retail sales channgel of The Prudential Insurance Company of America ("PICA") and its insurance company and other affiliates (collectively "Prudential"). Prudential Advisors financial professionals are licensed insurance agents of Prudential.
Pursuant to a strategic relationship among Prudential, LPLE, and LPL Financial, Prudential Advisors financial professionals provide securities brokerage services and/or investment advice on securities solely as registered persons of LPLE, an affiliate of LPL Financial. These financial professionals are permitted to brand under "Prudential Advisors".
LPLE and LPL Financial are not affiliated with Prudential or Pacific Northwest Financial Group.
Prudential, Prudential Advisors, and the Pacific Northwest Financial Group are not registered as a broker-dealer or investment advisor.
Pacific Northwest Financial Group and LTM Marketing Solutions, LLC are unrelated companies. This publication was prepared for the publication’s provider by LTM Marketing Solutions, LLC, an unrelated third party. Articles are not written or produced by the named representative.
The information and opinions contained in this web site are obtained from sources believed to be reliable, but their accuracy cannot be guaranteed. The publishers assume no responsibility for errors and omissions or for any damages resulting from the use of the published information. This web site is published with the understanding that it does not render legal, accounting, financial, or other professional advice. Whole or partial reproduction of this web site is forbidden without the written permission of the publisher.