INSURANCE

QUENTIN DOLL VICE PRESIDENT OF LIFE INSURANCE PRODUCTS NORTHWESTERN MUTUAL

Life insurance can give you important peace of mind — particularly at a time like this — knowing that your family will be protected financially if something should happen to you. In addition, with whole life insurance, your policy will accumulate cash value over time. Since the cash value is guaranteed to grow and is unaffected by the market, it can become a stable source of funds that you can access at any time. At Northwestern Mutual, right now if you’re looking for a death benefit of less than $1 million, in nearly all cases the process can be done remotely. ALBERT S. PAPPALARDO, JR.

MBA, CIC

VICE PRESIDENT

PAPPALARDO AGENCY, INC

The best time to buy insurance is before you need it. This is especially true for life insurance — in fact, the earlier in your life you buy, the better, as you are generally in better health, thus premiums are lower. While we have seen some difficulty coordinating those who needed to meet with a nurse for a blood pressure reading and blood draws, most of the problems have fixed themselves. The biggest positive change has been the discussion about life insurance that this pandemic has encouraged. Those people who welcome the discussion usually know someone who was affected by COVID-19 and want to make sure their loved ones and businesses are protected. CHAD HRAPMANN LPL INVESTMENT ADVISOR REPRESENTATIVE BILL HRAPMANN WEALTH ADVISOR, INC.

Times of uncertainty, such as this pandemic, tend to bring financial security to the forefront of everyone’s mind, particularly life insurance. Life insurance has a wide range of wealth-building and estate-planning capabilities beyond the standard death benefit. For example, it can be used to provide tax advantaged investment income, estate and income tax-free death benefits, as well as to provide financial support for heirs. With today’s pandemic, along with tax and economic uncertainty, it is definitely beneficial for people to review their life insurance

Q

How has life insurance changed during the pandemic? Is now a good time to buy?

and overall financial plan. NORA VADEN HOLMES, CPCU, LUTCF AGENT STATE FARM

Life Insurance sales at State Farm have far exceeded all projections for 2020 as a result of COVID-19. People who only had coverage at work and lost their jobs or were furloughed with no benefits were suddenly faced with no coverage. For this reason, we always stress the importance of additional life insurance outside of a company group plan. Our customers also had more time to have detailed and meaningful conversations when their world slowed down. The importance of protecting loved ones has been magnified this year, along with a desire for families to have their financial house in order at all levels. The best time to purchase life insurance is today.