Why Should I Buy Life Insurance?

Many financial experts consider life insurance to be the cornerstone of sound financial planning. It can be an important tool in the following situations:

Replace income for dependents

If people depend on your income, life insurance can replace that income for them if you die.

The most commonly recognized case of this is parents with young children. However, it can

also apply to couples in which the survivor would be financially stricken by the income lost

through the death of a partner, and to dependent adults, such as parents, siblings or adult

children who continue to rely on you financially. Insurance to replace your income can be

especially useful if the government- or employer-sponsored benefits of your surviving spouse

or domestic partner will be reduced after your death.

1.  Pay final expenses

Life insurance can pay your funeral and burial costs, probate and other estate administration

costs, debts and medical expenses not covered by health insurance.

2.  Create an inheritance for your heirs

Even if you have no other assets to pass to your heirs, you can create an inheritance by

buying a life insurance policy and naming them as beneficiaries.

3.  Pay federal “death” taxes and state “death” taxes

Life insurance benefits can pay estate taxes so that your heirs will not have to liquidate other

assets or take a smaller inheritance. Changes in the federal “death” tax rules between now

and January 1, 2011 will likely lessen the impact of this tax on some people, but some states

are offsetting those federal decreases with increases in their state-level “death” taxes.

4.  Make significant charitable contributions

By making a charity the beneficiary of your life insurance, you can make a much larger

contribution than if you donated the cash equivalent of the policy’s premiums.

5.  Create a source of savings

Some types of life insurance create a cash value that, if not paid out as a death benefit, can

be borrowed or withdrawn on the owner’s request. Since most people make paying their life

insurance policy premiums a high priority, buying a cash-value type policy can create a kind

of “forced” savings plan. Furthermore, the interest credited is tax deferred (and tax exempt if

the money is paid as a death claim).

This information provided by the Insurance Information Institute.

Protect your family with the insurance Texans trust and save an additional 10% on your Germania home premium. Contact Randall Harred today and let us quote your life insurance needs and see if we can save you money!

Germania at the San Antonio Home & Garden Show

Germania Insurance will be participating at the 30th Annual San Antonio Home & Garden Show this weekend, February 26th through February 28th. The show will be held at the Alamodome. If you go to the garden show this weekend, be sure to stop by booth #656!

Windshield Chips

Germania partners with Safelite to Offer Windshield Repair and Auto Glass Replacement.
 
    We know the importance of repairing your windshield or replacing damaged auto glass, and that is why Germania makes the process easy and convenient for you. Germania Insurance offers cost-saving windshield repair to policyholders in need.  If the chip or crack is less than the size of a dollar bill (6 inches), chances are that the damage can be repaired. Germania even waives the deductible for windshield repair service, so there is no out-of-pocket cost to you (certain restrictions may apply). Keep in mind, if your windshield is chipped it's only a matter of time before it spreads into a larger crack and must be replaced.

     If your windshield has a chip that needs repair or if any glass on your vehicle requires replacement, you can conveniently report auto glass claims on the Safelite website or call Germania Glass Service at 1-800-392-2202 and follow th ephone prompts to report your auto glass claim to a customer service representative.