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Personal Benefit Planning: Insuring the Times of Your Life!

May 18, 2020

Personal Benefit Planning: Insuring the Times of Your Life

At what stage of life are you? Do you have proper life insurance?

Married or Getting Married
Many families depend on two incomes to make ends meet. If you died suddenly, would your spouse
have enough money to cover your funeral costs, credit card balances, outstanding loans, and daily living
expenses?

A Parent or About to Become One
If you died tomorrow, would your spouse have the wherewithal to provide your children with the opportunities
you always dreamed they’d have? From diapers to diplomas, would there be enough income to pay for
daycare, a college education, and everything in between? Even parents who don’t work outside the home
need life insurance because they provide services that would be expensive to replace, such as childcare,
transportation, and household chores. And what about single parents? They need life insurance more than
anyone because their children rely on them for everything.

A Homeowner
If you’re like most people, your home is your most significant financial asset. Life insurance can be used to
pay down or retire the mortgage, sparing your family from moving to a less expensive place to live. Plus, it
can provide the funds needed to help family members maintain the lifestyle to which they’re accustomed.

Changing Jobs
If you’ve recently been promoted or changed jobs, it’s a good time to reevaluate your life insurance coverage.
Why? You may not realize it, but when your income rises, your spending tends to rise, too. Updating your
life insurance coverage can help ensure that your family would be able to maintain its new and improved
lifestyle if something were to happen to you.

Retired or Planning for Retirement
If your children are on their own and your mortgage is paid off, you might feel your need for life insurance
has passed. But if you died today, your spouse could outlive you by 10, 20 or 30 years. Would your spouse
have to make drastic lifestyle adjustments to make ends meet? Adequate life insurance coverage can help
widows and widowers avoid financial struggles in retirement.

Single
Most single people don’t have a pressing need for life insurance because no one depends on them
financially. But there are exceptions. If you’re providing financial support for aging parents or siblings, or if
you’re carrying significant debt you wouldn’t want passed on to family members, you should consider life
insurance.

Now is the perfect time in your life to figure out your life insurance options. Fill out our contact form and your life insurance specialist will contact you shortly! 

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