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Do Retirees Need Life Insurance?

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What everyone should know about life insurance before retiring.

The day that you retire should be one of the happiest days of your life. After working for many years, you finally have the time to enjoy the simpler things in life. However, before you reach your retirement, it is important to take the time to consider if you are financially ready to enjoy a slower lifestyle.

The main advantage of life insurance is being able to provide a tax-free inheritance for your heirs. That is not the only benefit, though. Life insurance can also offer almost interest-free loans that can help to create a tax-free income that you can use when you retire. You can also use your policy to help with extended living or assisted living costs if you invest in a permanent life insurance policy.

Even if you have a nice IRA or 401k to help pay for your retirement, you may still want to consider a separate life insurance policy. Most people underestimate how much money they will need when they retire, which can lead to serious financial hardships. Life insurance gives you access to tax-free money if you ever need it. As an added bonus, there are no complicated tax rules that you have to consider when you collect the money.

As long as you keep up with the premiums of your life insurance policy, you never have to worry about the policy being canceled. While other retirement funds may be at the mercy of the ever-changing economy, you can have the peace of mind that you deserve throughout your retirement with a life insurance policy.

For help finding the perfect Conejo Valley life insurance policy, contact Cappuccino Insurance Agency in Westlake Village, California. We will work with you to ensure your policy meets all of your needs, all at the right price to fit your budget.

What Smoking Means For Your Life Insurance Premiums

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Smokers and Life Insurance

It is not a secret that smoking is bad for your health. Due to the fact that smoking can significantly shorten your life, life insurance companies will dramatically increase your policy premiums when you are a smoker.

When determining your life insurance rates, your life insurance company will most likely require that you get a physical to determine your weight, height, blood pressure, and other health metrics. If you have a risky habit, such as smoking, you will face much higher premiums than a non-smoker. Men and women who smoke spend more than $1,000 more each year for a term life insurance policy than those who do not light up.

If you quit smoking while your insurance policy is already in place, your premiums will decrease each year that passes. However, you will need to avoid cigarettes for at least five years before you will start paying the same life insurance rates as non-smokers.

If you are an ex-smoker, there are some strategies that you should keep in mind to ensure that you are getting the right amount of protection, including:

  • Do not lie – your medical records and medical exam will reveal if you were a smoker, so your insurance company can figure out if you were lying on the application. Lying to your insurance company can be considered fraud and may lead to issues with the death benefit.
  • If you start smoking after your policy is already in place, you will not need to notify your insurance company, just like with any other medical problems that you develop after your policy is in place.

For all of your Conejo Valley life insurance needs, contact Cappuccino Insurance Agency in Westlake Village, California. We will work with you to make sure that you and your loved ones have the protection that you deserve.

It’s Time For Your Insurance Review!

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Annual Insurance Review

As the first month of 2015 comes to an end, it is the perfect time to plan for all that you want to accomplish throughout the year. It is also the best time to look over all of your insurance policies to ensure that you are protected from any unfortunate situation that may arise. There are many benefits of reviewing all of your insurance policies early in the year, including:

  • You may find more discounts – there are many different discounts that are available that will help to lower the cost of all of your insurance policies. Make sure to talk with your insurance agent to see if there are any discounts that you can qualify for that you are not already taking advantage of.
  • You may not have enough coverage – if you had any major life changes in the past year, you may not have enough protection of your new lifestyle. If you welcomed a new member to your family, you will want to increase your life insurance policy to make sure that all of your dependents will be protected when you are gone. If you made any renovations to your home to make it more comfortable for your expanding family, make sure that your homeowner’s insurance policy will provide coverage for the increased value of your home.
  • You may have too much coverage – when looking over your insurance policies, you may find that you have too much coverage, which means wasted money every month. Check to see if you can decrease any of your insurance policies to help you save hundreds or thousands of dollars each year.

For all of your insurance coverage needs after reviewing your insurance policies, contact the insurance experts at Cappuccino Insurance Agency in Westlake Village, California. We will work with you to ensure that you have the right amount of protection, all at the right price.

Happy New Year From Cappuccino Insurance Agency!

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The Team At Cappuccino Insurance Agency Wishes You Happy Holidays & A Happy New Year!

Thank you for allowing us the opportunity to serve you for your insurance needs in 2014. We have been grateful for a wonderful year with our valued clients like you in Westlake Village, Conejo Valley, and all of California, and are looking forward to continuing to partner with you in 2015.

For comprehensive coverage and competitive rates for all of your insurance needs in the New Year, contact our team today. We want to offer you the best coverage for your home insurance, auto insurance, renters/condo insurance, life insurance, and commercial insurance. Whether you are due for your annual review or want to rework your policies from the ground up, we can meet your insurance needs in 2015.

We Send Warm Wishes To You and Yours For 2015 And Beyond!