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Life Insurance: Peace of Mind When You Need it Most

June 20, 2024
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You know you need life insurance and the peace of mind it brings, but you haven’t yet pulled the trigger.

You’ve worked hard to provide a solid foundation for your family’s financial future, so protect it.

It’s pretty simple – if someone depends on you financially, you need to have life insurance. Here are a few milestones at which you need to consider life insurance.

Getting married

Amidst all the planning that goes into a wedding, practical things can be easily overlooked.

If you’re building a life together that is dependent upon two incomes to cover a mortgage, loans, credit card balances and other living expenses, you need to have adequate life insurance coverage.

Don’t leave your spouse unable to meet financial obligations if something were to happen to you.

Becoming a parent

Nothing changes your life quite like becoming a parent.

It causes even the most ardent kid-at-heart to evaluate their situation and take steps to provide a secure future for their growing family.

As hard as the question is to think about, if you were to die next week, would your spouse be able to provide the future that you dream of for your children? Could they afford the house payment and the bills that go with it?

It’s also important to remember that life insurance isn’t just for the parent who works outside the home.

Stay-at-home parents need to be covered on costs such as child care, transportation and the management of the household.

Don’t forget about the absolute necessity of life insurance if you’re a single parent.

Buying a home

Whether you’re buying your first house or you’ve been a homeowner for a while, you know it’s your most valuable asset.

If something were to happen to you or your spouse, the last thing you’d want is to have to uproot the rest of the family because you could no longer afford your home.

Make sure your family would have the means to go on living the lifestyle to which they’re accustomed if the unexpected happens.

Changing Careers

Starting a new job is the perfect time to reevaluate your life insurance needs.

As you make more money, you spend more and your financial obligations grow. It’s important to update your life insurance to keep in step with your changing income.

Though many employers offer a life insurance policy, it’s not usually enough for your family to be able to carry on without changes.

Retirement

Whether you’re already retired or it’s on the horizon, talk to your spouse about your life insurance coverage.

Don’t make the mistake of assuming that your empty nest and paid off mortgage mean you can lower your amount of life insurance.

If you or your spouse were to die suddenly, the remaining partner could live for another 20 years.

Your retirement years aren’t a time either of you would want to be forced to make significant lifestyle changes. Life insurance can make all the difference for widows and widowers.

When you’re single

You don’t want the burden of your funeral expenses or any debt that you owe to be passed on to your loved ones.

Work with an expert

Purchasing life insurance can be a confusing experience. Rather than putting it off because it’s too stressful to think about, consult a pro.

A professional will help you match your needs to a policy that works for you and your budget.

They also act as an advocate when you have questions or issues with billing or claims.

The best part is that your independent insurance professional will be with you for the long-haul.

Contact us here or at 800-722-7331 to discuss how we can help you gain peace of mind. Our knowledgeable experts can guide you to a plan that’s just right for you.

This post was originally published in June 2018; updated June 2024.