Special Advertising Section
ife insurance is a simple answer to a very difficult question: How will
my family manage financially when I die.
It’s a subject no one really wants to think about. But if someone depends on
you financially, it’s one you cannot avoid.
There are many types of life insurance, but for all of them the bottom line
is the same: It pays cash to your loved ones after you die, replacing your income
and allowing the financial plans you put in place to continue uninterrupted.
Life insurance payments can be used to cover daily living expenses, mortgage
payments, outstanding loans, college tuition and other essential expenses. And,
importantly, the death benefit proceeds of a life insurance policy are almost
never subject to federal income taxes.
If you’ve worked hard to establish a solid financial framework for your
family—investments, home equity, a savings plan, retirement accounts—life
insurance is the foundation upon which it all rests. It can guard against the need
to make drastic changes to future plans if the unexpected occurs. Certain types
of life insurance even have a built-in savings feature that can help you reach
asset accumulation goals.
Most Americans need life insurance, and many who already have it might
need to update their coverage. This guide will help you sort through your options
and show you how to find a plan that’s right for you and your family.
.
Common Excuses That Shouldn’t Stop You
From Getting the Coverage You Need
“It’s Too Expensive."
Not having any or enough life insurance coverage could be more costly to your family.
“I Haven’t Gotten Around to It."
There are no guarantees in life, so don’t procrastinate.
“I Prefer to Put My Money Elsewhere."
This might work if you’re sure you’re going to live a nice long life.
“I Worry About Making the Wrong Decision."
A qualified insurance professional can answer all your questions and guide you
through the buying process.
“The Coverage I Have Through My Employer Is Sufficient."
Typically, employers provide a modest amount of coverage, and you can’t take it
with you when you leave your job.
L
C
hances
are, you need
life insurance
DON’T HAVE
LIFE INSURANCE.
You’re not alone.
41%
own an
individually
purchased
policy
81%
of Americans
say they need
life insurance
Sources:
Life and Health Insurance Foundation
for Education; LIMRA International.
This brochure is a service of the Life and Health Insurance Foundation for Education, a nonprofit
organization dedicated to helping consumers make smart insurance decisions to safeguard their families’
financial futures. Learn more at www.life-line.org. © 2006 LIFE. All Rights Reserved.
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