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Discussing life insurance can sometimes feel awkward and melancholy. People naturally avoid contemplating mortality, but preparing for inevitable life challenges requires honest discussions. At Pethel Insurance Group, serving Kannapolis, NC, and the surrounding areas, we aim to assist families in navigating these challenging topics. The following are several tips for facilitating these difficult discussions.

Properly Prepare Family Members For the Conversation

Most people are uncomfortable when unwittingly thrust into intense discussions, particularly concerning subjects that they already find disconcerting. It’s important to notify your family members ahead of time about the significance of this topic to you and schedule a time for a collective discussion.

Be Gentle

If you have a family member who is particularly sensitive to discussions about death or dying, you should approach this conversation with extra care. Explain the necessity of these tough topics, emphasizing that avoiding further pain following a loss is important.

Explain How Insurance Helps

It’s also crucial to elucidate how insurance can provide relief during the distressing time of losing a loved one. It helps cover final expenses, ensuring the deceased obtains their preferred final arrangements. Furthermore, insurance ensures that the remaining family members are financially cared for without the deceased’s income.

If you’d like to learn more about life insurance, contact Pethel Insurance Group, serving Kannapolis, NC, and the surrounding regions. We’re here and ready to answer your questions.

We believe life insurance is appropriate for every child at the Pethel Insurance Group, serving Kannapolis, NC, and all of Cabarrus and Rowan counties. There is no more horrible experience for any parent than losing a child. Making sure you have enough life insurance can cover final expenses and give you the resources for taking some time off to mourn the loss of your child. And even if you raise your child to a happy and healthy adulthood, as most of our customers do, insuring your kids has some other advantages.

Buying Life Insurance Now Locks In Rates

When a child turns 21, the ownership of their life insurance policy transfers from the parents to the child. Coverage that starts when the insured is a child generally continues at the same monthly, quarterly, or annual rates when they are adults. These rates are locked in even if they develop medical conditions that make them hard to insure.

Whole Life Insurance Grows in Value

Buying a whole life policy for your child gives them a source of ready cash they can access through loans later on. Your child’s credit rating doesn’t limit these loans. 

Depending on the policy you choose, whole life can insure your child’s life until they turn 65 or even 100. There are whole-life policies that are paid in full after a stated number of years, available to be cashed out or paid on death, as needed.

High-Income Parents Can Use Whole Life to Transfer Money to Their Children Tax-Free

At Pethel Insurance Group, we can advise high-income parents on how to use whole life insurance to transfer wealth to their children while legally avoiding North Carolina and federal gift and income taxes. For wealthy families, this is a powerful incentive to maximize their investments in life insurance for their children.

Pethel Insurance Group is convenient to families in and around Kannapolis, NC. Call us to make an appointment to discuss all of your life insurance needs.