protecting your family Archives - Spencer Insurance Agency, Inc

Life Insurance Myths and Facts

Thinking about your death isn’t the most enjoyable part of your life. However, ensuring your family’s future is protected when you’re gone is very important! Life insurance can help your family pay for funeral expenses, pay off any debt you left behind, and much more.

So why do people avoid buying life insurance before it’s too late? Easy! There are many myths and misconceptions about life insurance and we’re here to debunk those myths!

Myth 1: Life insurance is expensive. FALSE! Life insurance can cost less than your daily cup of coffee. On average, millennials overestimate the cost of life insurance by 213%! For a young and healthy adult, the average cost of a $250,000 life insurance policy is around $160 annually.

Myth 2: The choices are overwhelming. FALSE! While there are many different varieties of life insurance, the best choice for most people is a term life insurance policy. You should always consult your insurance agent about your options and they will help you choose the best policy.

Myth 3: I’m young and healthy. I don’t need life insurance. FALSE! The younger and healthier you are the cheaper your life insurance policy will be. You are never too young, or too healthy, for life insurance!

Myth 4: Stay-at-home parents don’t need life insurance. FALSE! If you’re a stay-at-home parent and you pass away, who will take care of the children? Your elderly parents? Your pets? Your surviving spouse will need to continue working and may need to hire help. Life insurance could help him or her pay for these costs.

Myth 5: Life insurance through an employer is sufficient. FALSE! While group life insurance is a great benefit, the payout is typically low and may not support a young family. What happens if you lose your job? A workplace policy doesn’t follow you. Having a personal policy is the safest and best option.

Family always comes first. Their future depends on you! Protect your family and loved ones today by calling Spencer Insurance Agency at (215) 885-2200 or visit us online at



The 7 Wonders of Life Insurance


We live for life’s wondrous moments whether it’s a baby’s first step, graduation or retirement.  Life Insurance helps to ensure the life you’ve built for your loved ones won’t come to a halt if something were to happen to you.

It’s never too early or too late to consider all the things life insurance and do for your family.

Life Insurance:

  1.  Buys Time – Loved ones can focus on their grief instead of worrying about how to pay for the funeral and other final expenses.
  2. Provides a fresh start – By helping to pay off credit card bills, outstanding loans and even the mortgage, life insurance starts your family members off with a clean slate.
  3. Generate Income – Surviving family members can continue to pay for life’s necessities for years to come
  4. Offers flexibility – Family members may take time off from work or transition to a more adaptable work schedule.
  5. Creates opportunities – Funds may be used to start a business or pay for schooling to train for a new career
  6. Funds for the Future – Loner-range goals, college education for the children or a comfortable retirement for a surviving spouse may be obtained with the insurance proceeds.
  7. Helps leave a legacy – Parents have the chance to leave future generations a legacy of long-term financial security.

Life insurance can be life changing.

Call us today at 215-885-2200 for a life review

Or check out our website

Share with us how life insurance has helped your family or someone you know. . .

You’re NOT too young to plan NOW for long-term care

November is Long-Term Care Awareness Month.  Even the U.S. Congress has urged “the people of the United States to recognize (this) as an opportunity to learn more about the potential risks and costs … and the options available.”   We’re proud to support this important educational campaign.

 Smart reasons to think about long-term care as part of your overall financial plan. 

 You protect against other risks like a car accident or house fire.  A need for long-term care is a risk to your savings and to your retirement.  It will impact your family and loved ones.   Just as it is smart to plan ahead for retirement, it’s smart to plan now for long-term care.  Here are some things you should know: 

  •       Buy before age 65; avoid the high cost of waiting.
    Your age and your health are important factors that determine the cost of long-term care
                insurance protection.   Costs are based on your age at application and go up each year
                you wait to apply.  By waiting to purchase until you are closer to retirement you might find
                it’s just too expensive to buy this important protection.
  • At younger ages you can lock in good health special savings.
    Your good health today can help you ‘lock in’ preferred health discounts that won’t change
                even if your health does. If you currently have a health condition it’s especially important
                to find out if you can health-qualify before it may get worse. 
  • Discounts can help significantly reduce the cost.
    I believe you will be surprised by how affordable long-term care insurance protection
                can be for some of the newer plans suited for people your age.  Today, there are ways to      
                reduce the cost of long-term care insurance; savings available when you plan ahead.

          The first step is in your hands.
    Getting the information you need to make an informed decision is always a smart move. 

I encourage you to take this first step and talk to one of our long-term-care specialists.  Waiting is never advantageous. 

 Call us at 215-885-2200 or go to our website at:    There’s no obligation, of course.  Spencer Insurance has access to many of the best carriers and solutions in the marketplace.

  Make Long-Term Care Awareness Month the time you start planning.

Is your Life Insurance up to date?

life-family2blogIs your family in jeopardy? Can they maintain their life style if you die?  What will your spouse and children do if they lose your income?

When was the last time you reviewed your life insurance?  It is important to review your life insurance with your agent every few years.  Why?

There are many reasons why you need a review:

  • You had an increase in income
  • You had a child or a second or third child
  • You were divorced or newly married
  • You bought a house or have increased your debt
  • Your children are now attending private schools

These reasons are good reasons to review your coverage to make sure you have enough coverage.  We can ask you a few questions to guide you on how much life insurance you need. 

You also need to look at your current policies.  Term life insurance prices have dropped over the years so you may be paying too much money for your policy.  You may have bought a 20 year term policy 15 years ago and only have 5 years remaining on your policy.  Will 5 years be enough?  Maybe you need to rewrite the policy to get a new 20 year period.

Call us today and ask us to give you a free review of your life insurance needs. Make sure you can answer the question “Do I have enough coverage?”

To learn more about life insurance check out our free report “How to protect yourself and your family if you die.”  Click this link to get the free report:  .

Don’t wait until it is too late, call us today!