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Do you have assets you want to pass on to your family?
Income protection is vital in today’s world. If you have a spouse and/or children and assets that you want to leave to your family, insurance is the tool to protect your assets and income. Our partnerships with different financial firms allow us to protect what you have – now and in the future. Life insurance can be a way to help you achieve your future financial goals. Some life insurance policies build cash value that you can borrow against for circumstances such as the birth of a grandchild, a college education, or unexpected expenses in retirement.
Do you share assets with a business partner?
44% of 130,000 small to midsize companies surveyed said they had bought key person life insurance on one or more key people whose loss would have a serious impact on their business continuance.*
* Royal & Sun Alliance Insurer Study, 2011
How much Life Insurance should I have and how do I calculate this value? What types of policies are available to me? How does Disability Insurance replace my income in the event of injury and I cannot work to earn a living? What type of Health Insurance is best for me and/or my family? These are questions that we answer and work with people to answer everyday.
Life insurance will most definitely be the most important form of insurance purchased in one’s lifetime. It will also cost the most of any other insurance because of its vital importance. Life insurance provides money for loved ones if you should leave this life unexpectedly early. The protection of dependents is the main reason to purchase life insurance. Basically you are making sure that the people who rely on your income to survive will still be taken care of and live comfortably after you are gone.
Everyone needs to decide how much life insurance they will need, learn about the different kinds available, and then compare policies for cost and benefits. Unfortunately, most people do not have enough life insurance. A good number of people try and hold off putting amounts in thinking that it will afford them more money to enjoy now. This can have catastrophic effects for your loved ones if the unexpected happens. One really has to consider their age and level of health in calculating how much and when to devote to their life insurance.
Some experts suggest buying life insurance that is about five times your annual income. This formula will help your family out in reference to your current economical needs in theory. This formula assumes that the person who will get the life insurance will also be eligible for social security survivor benefits.
Other formulas factor in the income needs and financial goals engineered to your specific family at specific times. Things considered are number of children, their age, current income, pensions, property, veteran’s benefits, social security, your savings, health of your spouse and children, and the amount of money that you have to spend of life insurance.
That’s the difference in dealing with an Agent and Broker that deals with insurance and insurance companies everyay, or dealing with a simple minded direct Life insurance company. Here at our agency, you can be rest-assured that you would be counseled on the proper limits to be there for when your family needs it, not to mention that you would have representation for the family in the event of death.
We invite you to experience our reputation that transcends expectations of service.
Ernest is the third generation owner of the Del Duke Insurance Group. He grew up in the insurance industry, working in this field before, during, and after his undergraduate and graduate studies. He has been involved in every aspect of the company’s operations, growing it from two employees and one insurance carrier in 1997 to where it is today. Ernest holds a Bachelor of Science in Finance from Rutgers University School of Business, a Certification from Rutgers Supervisory Management Graduate Program, and the AAI accreditation from the Insurance Institute of America. He also has served as the Chairman of The Cherry Hill Chamber of Commerce, has served on the Board of Trustees for Sustainable Cherry Hill, and has served on the Board of directors of the Independent Insurance Agents & Brokers of Southern New Jersey. He currently is a member of the Camden County Chamber of Commerce Board of Directors, a member of the Delaware Valley Business Leaders Alliance, a member of Cherry Hill Township Mayor’s Business Council, a member of the Partnership for Haddonfield, and is involved with several school and local kids athletics associations in Haddonfield, where he and his wife Vanessa, two boys Andrew & Harrison, and dog Frank live.