Consider Your Life Insurance Coverage
Life changes. When it does, your insurance probably should, too.
- New Debt
- Buying a new home, refinancing or making a big purchase can all increase financial responsibilities.
- Newlyweds typically want to make sure a surviving spouse will be able to pay the bills and send the kids to college.
- New Baby
- Each new child—whether through birth, adoption, or marriage—increases the family’s financial and caregiving responsibilities.
- Life insurance can help with final expenses, create an income-tax-free inheritance, or replace lost income from the deceased spouse’s Social Security or pensions.
- Even when emotional ties are broken, some financial obligations cannot be dissolved. Life insurance can help replace alimony or child support, or help pay for childcare if the primary caregiver dies.
- Coverage may need to be increased to match a new, higher salary.
- Job Change
- A new policy may be needed to replace or supplement coverage that is lost after leaving an employer.
How will your family support themselves without your income if you don’t have life insurance?
Will your family suffer financially if they have to pay for your end-of-life arrangements?
Will you benefit from the peace of mind what comes with the knowledge that your loved ones will not be burdened?