Life Insurance can help keep your financial commitments to your loved ones after you are gone. The best type of life insurance to have is the kind that provides the right amount of protection at the right price. In many cases, term life insurance can be an effective solution to cover your protection needs.
Term insurance is generally the lowest premium life insurance available. This product provides protection for a particular term length of time, and therefore pays a benefit if you die during the term period.
Term life insurance can provide funding to help your beneficiaries with the following expenses:
- Mortgage or outstanding debts
- Maintain the lifestyle of a surviving spouse and family
- Children’s education costs
- Final expense and unpaid medical bills
In the event of an untimely death, the benefits from a life policy can help ensure that a family keeps its home, a child receives an education, a retirement is fully funded or a family business keeps its doors open. But how much do you need? Everyone’s situation, resources and goals differ, so there is no single answer to this question. Here’s a simple calculation from the nonprofit organization the Life and Health Insurance Foundation for Education (LIFE):
Having a life insurance policy in place to protect your loved ones is a smart financial decision. Call or email me today for more information on how easy it is to apply for your life insurance policy!