Long Island Life Insurance Questions Answered

There are very few sure things in life. We make plans and do our best to carry them out, but in the end we simply don’t know what the future will bring. That is what life insurance is for. It can help you and your loved ones be prepared in the event an unexpected death dramatically changes the future you had envisioned.

Since our founding in 1963, the James F. Sutton Agency has focused solely on helping people prepare for the risks of life in the best way possible. We believe life insurance is the cornerstone of such preparation, as it can serve the dual purpose of providing peace of mind during your lifetime and financial stability for those you love after you’re gone.

Life and Annuities

To help you make sense of a complicated topic, we will answer some of the most common questions we receive about life insurance:

Who Needs Life Insurance?

There is no one answer to this question, so it is wise to consider it with your circumstances in mind. The primary purpose of life insurance is to provide financial protection for your loved ones after you are gone. Most young families understand the need to put protection in place, especially while their children are young. Parents of adult children who may need ongoing care can use life insurance for that purpose. Some people use life insurance for charitable purposes to leave a lasting legacy.

Do I Need Term or Whole Life?

The answer to that question depends on your goals for the insurance protection. Term life insurance offers temporary protection for a specific period of time, usually 5 to 30 years. It is an inexpensive way to protect your family since premiums are fairly low. Whole life insurance protects for the ‘whole’ of your life, meaning if you continue to pay premiums, there will be life insurance in place when you die. Whole life insurance is designed to accumulate cash value, which may be used during your lifetime for things like college costs. Using the cash value will have an impact on the proceeds at the time of your death.

How Much Life Is Enough?

Again, there is no right answer to this question since everyone’s circumstances are different. We get to know our clients so we can truly understand their goals and objectives, which helps us work together to determine a suitable amount of life insurance coverage. For some people, a policy that would pay final expenses, such as medical bills and funeral costs would be sufficient. Others want to have enough life insurance to replace future lost income and provide for their family. The amount of life insurance you need may increase over time. The James F. Sutton Agency has been helping families with important decisions for 50 years, and we will be here to assist you as your circumstances change over time.

What Is Mortgage Life Insurance?

Buying a home is likely the most expensive purchase you will make in life, so it’s natural that you would want to be sure your family can go on living there even if you are no longer here. One way to ensure that is to purchase mortgage life insurance, which will pay your mortgage in the event of your untimely death. We generally find that most people benefit from having sufficient life insurance to provide for ongoing living expenses in addition to satisfying a mortgage.

As you can see, choosing the right life insurance solution is a personal decision with no wrong answer. No matter which type you choose, protecting your family’s financial security with life insurance is something you should consider. We can also assist you with other financial services, such as 529 college savings plans or if you want to purchase an annuity.

Contact Our Long Island Agency

We know you will appreciate the convenience of working with the James F. Sutton Agency for all your insurance needs, from home and auto to life insurance. Contact our East Islip office today. Let’s get started together on your path to financial security.