Who needs it?


Everyone has someone that is depending on them financially, you need life insurance. Not just life will always be enough. Regardless where you are in life there is some type of insurance that you will need. Find your particular situation below to find out how life insurance fits into your overall financial plan.


Married with Children

It's not only important that your spouse is protected, but it's important that your children will be able to continue living the lifestyle they're used to. Consider their financial needs, such as living expenses, college tuition and marriage.


Single people need life insurance too. For example, some singles provide financial assistance for ill parents, and some people are carrying significant debt, like student loans, that they wouldn't want to leave their cosigners with. But also consider insurability. Buying a life insurance policy while you're young and healthy will guarantee your insurability for life.

Married with no Children

Married couples share financial obligations. That's why it's important for each spouse to have their own life insurance policy. In the event of a spouse's death, a life insurance policy would allow the surviving spouse to cover shared expenses. In addition, if you're a married couple planning on having children, it's a good idea to buy the life insurance policy before becoming pregnant because health complications can affect your life insurance rate.


Stay-at-Home Parent

Stay-at-home parents make very large financial contributions to their families. For example, things like childcare, transportation, cleaning, cooking and household management all cost money. If you are a stay-at-home parent, it is important to have a life insurance policy that is sufficient enough to cover the cost of these responsibilities if you are no longer around.


If you have an estate, your heirs could be hit with a large estate tax payment after you die. The proceeds of a life insurance policy are usually paid out immediately, allowing your heirs to cover the estate tax and other final expenses.

Small Business Owner

Life insurance can protect your small business. If you, a partner or other key employee died, a life insurance policy would cover the business' financial loss. Life insurance for businesses can be structured to fund a "buy-sell" agreement, where the surviving partners would have the funds to buy the company interests at a previously agreed upon price, or "key person insurance," which provides the owners with the proceeds needed to hire a replacement.

Single Parent

Single parents serve as the primary caregiver, breadwinner, cook, chauffeur, entertainer and more. With so much responsibility and no spouse to share it with, there's no question single parents need life insurance.



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