Life Insurance The Importance of Protection The uncertainties of life are wide ranging, and many of them can threaten the financial security of you and your family. We understand most of these risks – a home destroyed by a fire and a car accident are just two common risks where insurance exists to prevent a larger and sometimes devastating financial loss.But what about life insurance? If your loved ones rely on your income, it’s critical to consider having enough life insurance to provide for them after you pass away. Too often, life insurance is an overlooked aspect of personal finances. Life insurance is designed to help protect you, your family, and even your business as you build personal wealth. Single Many single adults (of any age) overlook life insurance. They this protection is unnecessary since they don’t have a partner or children who are dependent on them. However, there are other reasons to consider. Insurance can help avoid leaving end-of-life expenses to your loved ones. Some life insurance even builds cash value, providing a valuable wealth-building tool to supplement your retirement income. Newly Married In the event of a spouse’s death, the surviving spouse’s single income may not support their prior dual-income lifestyle. As a result, your spouse may struggle with meeting debt and cash flow obligations. Life insurance can avoid the financial burden of paying off debts and/or replacing a deceased spouse’s income, allowing your spouse to maintain the financial lifestyle to which they have become accustomed. Starting a Family It's no secret that children increase a family's financial obligations, and those obligations only increase as time goes on. The loss of income following the death of a parent can limit the future lifestyle for your surviving children and spouse. Life insurance can help ensure that your children can remain in their home, have their financial needs continue to be met, and even provide for future college expenses. Empty Nesters In this stage you may not need as much life insurance as before since your children are out of the home. But it is still important to have protection, especially if you are married and still working, or if you still have unmet debt obligations. Life insurance can be used to supplement estate planning and help ensure your family's needs are continuing to be met. Retired Planning for your financial future doesn’t end at retirement. In addition to financial protection in the event of your death, a life insurance policy with cash value built up can help provide additional retirement income. Life insurance can also help with estate planning and also allow you to leave behind a legacy for your loved ones. Business Owners Business owners can use life insurance as a valuable tool to not only protect their family, but to also help overcome the loss of key personnel, provide an additional benefit in an employee incentive package, and provide business partners with peace of mind knowing they won't need to sacrifice their business's cash flow to buy out a deceased partner's share. How much life insurance do I need? Term life insurance online. No medical exam. Get a free quote. Apply Now Looking for more than just term life insurance? Contact Us For A Custom Quote More Insurance Information Assessing Life Insurance NeedsInsurance Needs by Life StageYoung and SingleNewly MarriedHaving ChildrenInsurance Following a DivorceEmpty Nesters and/or RetireesTerm vs Permanent Life InsuranceTest Your Life Insurance Knowledge (Quiz)Estate Management Checklist The content is developed from sources believed to be providing accurate information. The information in this material is not intended as tax or legal advice. It may not be used for the purpose of avoiding any federal tax penalties. Please consult legal or tax professionals for specific information regarding your individual situation. This material was developed and produced by FMG Suite to provide information on a topic that may be of interest. FMG Suite is not affiliated with the named broker-dealer, state- or SEC-registered investment advisory firm. The opinions expressed and material provided are for general information, and should not be considered a solicitation for the purchase or sale of any security. Copyright 2021 FMG Suite.