There are few moments more thrilling than when your first child is born, but your life is changed from that day forward. Now you have a family to think about as well. Although unsettling to think about, it’s important to have financial safeguards established in the case of your untimely death. Read more about the importance of life insurance and how it can help provide your family with the financial resources they will need in the short and long term, after you’re gone.
You understand firsthand just how costly it is to raise children. Plus, you may have kids nearing college or who are already enrolled in it. And like many, you may also be caring for your aging parents. If you were to die, would your family be able to maintain their standard of living—continue to live in your home, keep college dreams alive? Would your spouse or partner be OK into retirement? If you’re a single parent, this issue becomes even more critical, as you are your children’s one and only. Learn more about the vital role life insurance plays in mid-life financial planning.
As an empty-nester, you may think you can do away with your life insurance coverage now that your kids are on their own. However, if you were to die, would your spouse or partner be able to maintain his or her standard of living, keep up with the mortgage and continue to save for retirement? If you’ve already entered retirement, the years ahead can be some of the most rewarding and relaxing of your life. Even if you’ve been able to put together a nest egg, there is always more you can do. In the event of your death, life insurance can provide for your spouse or partner, create a legacy for your children and grandchildren, pay for funeral expenses and ensure that your estate is passed on to your family tax-free.