Legacy, “a gift by will especially of money or other personal property”
is the definition taken from Merriam-Webster’s online dictionary. Anything given to you by someone, who has marked you as beneficiary, after death. An article of clothing or a piece of jewelry. It could be a letter or land. However big or small, what they leave behind will be their legacy and part of how they are remembered. Have you thought of what your legacy will be?
Today, there are many companies that make it easier than ever to leave something substantial for your loved ones. I’m speaking about Life Insurance! For less than a dollar a day you can amass a large sum of money for your beneficiaries after you pass. Specifically, a 30 year old, nonsmoking male can get a 20 year term life policy with a benefit amount of $250,000 for around $16 a month. Can you imagine that? That’s practically a brand new house!
Another kind of term life insurance you can get is one with a return of premium rider. Term insurance with R.O.P. means that after the policy duration has passed, you will get all of the premiums you’ve paid back. For those with no retirement plan, this can be a viable option.
If you’re worried about leaving a legacy, don’t fret. Life insurance comes in all shapes and sizes to fit your needs and budget. For more information visit LifeHappens, contact your financial planner, or call AC Financial Group to speak to a registered Benefit Advisor today.