If helping loved ones maintain a standard of living and avoid financial hardships after your passing is a priority for you, life insurance products can help. A general rule is that you may want to seek coverage between five and seven times your gross annual income. As far as the various types of policies go, they can generally be placed into one of two categories: term and permanent.

Term insurance generally provides coverage for a specified period of time and pays out a specified amount of coverage to your beneficiaries only if you die within that time period. A permanent insurance policy, on the other hand, will stay permanently in effect for the rest of your life, as long as premiums continue to be paid.

Strategies for Financial Independence

It is important to feel you have control over your future. At Saoud Financial, we offer our experience and knowledge to design a specific plan of action that helps you work toward your financial independence.

To schedule a time to discuss your financial future and the possible role of insurance products in your financial strategy, contact us at jelsey@SaoudFinancial.com or call us at 586.225.7171 today!