Is it covered?
GERMANIA LIFE The best way to appreciate the need for life insurance is to listen to the story of someone who was saved from financial hardship because their loved one cared enough to protect them while they were still alive. Allison Finney, a Life agent and owner of Finney Insurance Agency in Belton, acquired a deep appreciation for life insurance when her brother and business partner, Corbett Finney, passed away unexpectedly two years ago at age 50. “My brother and I had life insurance on each other as business partners,” she said. “When Corbett passed away, life insurance allowed me to pay his estate for his half of the business.” At age 13, Corbett’s son was diagnosed with the same hereditary heart condition his father had. Fortunately, Corbett had purchased a Juvenile Life policy with a guaranteed insurability rider for his son. Because of that, his son’s heart condition won’t prevent him from buying additional life insurance when he’s older. It’s understandable that insurance agents would know how much life insurance they need. But what about the rest of us? How do we separate facts from myths? Unfortunately, most of what we believe about life insurance isn’t true. Eight in 10 Americans overestimate the cost of life insurance, according to the 2017 Insurance Barometer Study. Forty-three percent haven’t bought life insurance because they Storm flooding : You’ll need a separate flood insurance policy to cover flood damage even when caused by a hurricane or other natural disaster. Talk to your Germania agent about this reasonably priced coverage, even if you live outside of a high-risk area. Water damage : If a pipe breaks and floods your home, your property insurance policy will only pay for damage that needs to be repaired — like damaged ceilings, walls and floors — but not to fix the broken pipe itself. Termite and rodent damage : Infestations and ensuing damage due to these pests are specifically excluded in most if not all homeowner’s policies.
Worn-out roof : Unless it’s damaged by hail or wind, your well-worn roof is not covered by your property insurance policy. Mold : In Texas, mold is not covered on most homeowner’s policies, even if it is a result of long- term leaks or improperly vented areas where moisture commonly occurs, such as bathrooms and kitchens. Pet damage : If your crazy new kitty knocks over the TV then scratches up the carpet and couch, it’s up to you to fund the repairs.
don’t know what type they need. And a third says they just haven’t gotten around to it. Yet, 25 percent of U.S. households would have trouble paying their living expenses if the primary wage earner passed away. Today, most people live on two incomes, “and if one of those incomes is lost, the other party can lose everything and the way of life they are used to,” Allison Finney said. When it comes to life insurance, procrastinating costs money and could leave your loved ones in terrible financial straits if your income were lost. The younger you are when you buy life insurance, the cheaper your premiums will likely be. And, with Germania Life, if you buy a Whole Life policy in your 20s, the lower premium rates are locked in. If you’re a parent or grandparent, you can give your children or grandchildren a huge head start in life with Germania Life’s Juvenile 10-Pay policy. If you’re one of thousands of Americans who hasn’t purchased Life insurance because you’re not sure what type you need, you can find a Germania Life agent near you by visiting Germania’s website at germaniainsurance.com or call the Germania Life Company at 800-392-2202 Ext. 2060. “Life insurance is one of the most valuable things you can purchase while you’re alive,” Allison Finney said. “It’s the final way to show your loved ones how much you cared for them.”
Secure Love
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