A Complete Financial Plan Includes Insuring the People Who Count

As your life goes through different stages, your life insurance needs will change. Everyone’s experience is different, but here are some of the key concerns you might face.

Young couple, new homeowners - Buying a home together is exciting. But it’s also
a major financial commitment that may depend on two incomes. If one of you were to die un- expectedly, you want to be sure that the surviving spouse is able to keep the home you love. If both of you have life insurance, you’re protecting each other and your investment.

Young working parent - Since your kids depend on you to support them,
if you were to die, their financial security might
be at risk. Even if your spouse or relatives will be there to raise your children, they may not have the financial resources to provide the things for your children that you wanted them to have. Life insurance can help you make sure that whoever raises your children after you’re gone can maintain the standard of living you want for them.

Supporting kids and parents - These days, more and more people find them- selves raising children while at the same time supporting their parents in their old age. There’s even a name for it: the sandwich generation. It’s because you find yourself squeezed between two equally pressing obligations. The more people you have dependent on you, the more life insurance you probably need.

When the kids are grown - Without kids to support, your life insurance
needs will probably be considerably smaller
than they were before. You might still have older parents to think of, or you may need life insurance to support a surviving spouse or as an estate planning tool. And if you’ve got a policy with a cash value attached, you might be able to use that to help reach your retirement goals.

Contributions from the book Guide to Understanding Life Insurance in this press release are used with permission from Light Bulb Press.