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Identify Your Needs to Find the Best Life Insurance
Most people need affordable life insurance. It's that simple. No matter your age, marital status, or whether you have dependent children or not, life insurance is an important safeguard to consider for you and your family's financial future.
To help you identify your needs for life insurance, review the life scenarios to see how life insurance may benefit you and your circumstances.
Single Supporting Loved Ones
Do you provide financial support for your parents, brothers or sisters? Do you have significant debt that you do not want to pass on to your family members? Most single people typically do not consider purchasing life insurance until these factors are considered. If you have loved ones who depend upon you financially or you want to protect your family from any of your own debt or final expenses, you should have life insurance coverage. Learn more at our Life Insurance Blog.
Married with (or without) Children
For richer, for poorer, in sickness and in health, affordable life insurance is an important part of your financial plan. Consider what the future would look like without your financial contribution to the household.
Married couples with or without children should have affordable life insurance in place to protect what you have today and to care for your loved ones in the future.
Being a stay-at-home parent doesn't mean that you are not making a financial contribution to the household. Providing around-the-clock childcare and managing the day-to-day household activities equate to valuable services that would otherwise need to be paid to support and preserve your family's quality of life. Your life insurance coverage can continue to support your family in the way you care for them today.
Raising the family on your own requires you to look out for so many things. On the day-to-day, you make sure the kids are healthy, happy, and doing well in school. Then, there are your long-range goals for them, like college. Being a single parent, there is so much to consider for your family's future. This is why having affordable life insurance in place to preserve your family's quality of life in the future is just as important as the day-to-day care you give them today.
Empty Nester Free and Clear of a Mortgage
There's a sense of financial freedom when you get to the point where you raised your kids and find them now on their own and self-supporting. You own your home free and clear of any mortgage payments and look forward as you near retirement. Unfortunately, your retirement plan savings and social security may not always cover living expenses for your spouse and other dependents if you were to pass away suddenly.
It's never too late to consider term life insurance to protect what you've worked so hard to achieve over the years and to pass on to your spouse, children, even grandchildren in the years to come.
Retired in the Golden Years
In preparation for retirement, you probably addressed planning for your estate so everything is in order. Having piece of mind at retirement means enjoying what you worked hard for and setting up your family for what you leave behind. Having a life insurance policy in place early in life ensures your family can take care of estate taxes, final expenses, and other debts down the road. Additionally, the proceeds of a life insurance policy are generally income tax free and can be structured to avoid probate and mitigate further estate tax liability.
Small Business Owner
There's so much to consider when you're your own boss. Life insurance can protect your business in the event of your death, the death of one of your business owners or key employees. Life insurance can protect you, your family, and your business in a number of ways, for example:
For more information on purchasing term life insurance for your business, please Contact Us and an IntelliQuote Life Insurance Agent can assist you.
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