No one knows what the future holds. Hopefully, only good things. But bad things can happen too. You may not consider yourself a cautious person, but you probably do things every day to improve your odds that GOOD things will happen. You wear your seatbelt, lock your doors when you leave home, eat well and exercise.
It's relatively easy to take these little steps. The BIGGER steps, however, require thinking about some pretty unpleasant things. What would happen to you or your family if you became seriously ill or if you died?
Standing up to the future means making sure you can carry on, even in the face of a disaster. That's where life insurance can come in.
Life Insurance WON'T guarantee you'll never face a tragedy, but it will provide financial protection.
That's why we say LIFE HAPPENS. Take time to learn more about Life Insurance and how it can protect your family. It's a small step that will go a long way!!
WHO NEEDS LIFE INSURANCE?
Most families have two incomes. Could your family survive on one income?
YOU'RE A SINGLE PARENT
As a single parent, you're #1 on all counts. Nearly 60% of single parents have no life insurance. With so much responsibility you need to make sure you have life insurance to protect your children's financial well being.
THE KIDS ARE GONE AND THE MORTGAGE IS PAID OFF
If you died today, your spouse will still have daily living expenses. Does your current financial plan enable your spouse to maintain the lifestyle you worked so hard to achieve?
Did you know that depending on the size of your estate, your heirs could be hit with a large estate tax after you die. The proceeds of a life insurance policy are payable right away so your heirs won't have to liquidate assets to pay final expenses.
Most single people don't need life insurance, but there are some exceptions. Some may be providing support for aging parents or siblings. Others may be carrying significant debt that they don't want to pass along.
TERM vs PERMANENT?
There are many types of life insurance, but they generally fall into two categories: term insurance and permanent insurance.
Term insurance is designed to meet temporary needs. It provides protection for a specific "term" of time. In contrast, permanent insurance provides lifelong protection.
But remember the best way to figure out the amount and type of life insurance that makes sense for you is to meet with a qualified insurance professional.
The information on this page is for educational purposes only. SCCU is not engaged in providing estate planning or other advice. Please consult with a competent estate planning professional regarding any specific estate planning questions.