Tom Meaglia photo

Tom Meaglia, ChFC®

Chartered Financial Consultant

AEP®, CLU®, MSFS

Investment Advisor Representative

CA Insurance Lic. #0567507


Meaglia Financial Consulting

2105 Foothill Blvd., #B140, La Verne, CA 91750


Toll Free: 800-386-3700

Bus: 909-593-6105

Cell: 818-681-8600

Fax: 909-593-6120


Email: meaglia@earthlink.net

Website: www.meagliafinancialconsulting.com

May/June 2021

Is Life Insurance Optional?

Is Life Insurance Optional

Everyone hopes to live a long and healthy life. But the fact is, there are no guarantees. Would your family or business survive financially if you died suddenly or your company lost a key employee? Life insurance is designed to provide for families or businesses if the unexpected happens.


Life insurance protects your family or business by offering a cash benefit upon the death of the insured. Consider these key reasons for purchasing life insurance.


For Individuals
Life insurance can be used to:
  • Cover funeral and burial expenses. The average funeral costs between $7,000 and $12,000 — or more. Life insurance proceeds can be used to cover expenses, leaving more of your assets intact for your family.

  • Replace income. Proceeds from a life insurance policy can help your family maintain its standard of living after the loss of your income.

  • Pay for your children’s college educations. With one less income, saving for college may be difficult for your spouse. Life insurance proceeds can help pay college expenses.

  • Eliminate debt. Your spouse can use the benefit to pay off a mortgage or settle other debts.


Consider purchasing a life insurance policy on a non-working spouse as well. If your spouse dies, the proceeds can pay for services such as child care and housekeeping.


For Business Owners
The loss of a key employee can be a devastating event for your business. Key person life insurance covers individuals who are crucial to company operations.


The proceeds can be used to:

  • Compensate the company with cash.

  • Pay off debts.

  • Buy out surviving shareholders’ interests.

  • Finance training for a new employee.


If your business has several key employees, you might save money by purchasing a first-to-die policy. The policy covers the first person to die, then remains in effect to cover another key employee. Although the policy provides coverage to several employees, the premiums reflect that only one person at a time is receiving coverage.


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Investment advisory services offered through Fusion Capital Management, an SEC Registered Investment Advisor. 9111 Cypress Waters Blvd., Ste 140, Dallas, TX 75019.
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