Life Insurance - Protect Those You Love

As you shop around for life insurance, there’s one key factor to keep in mind: Your policy isn’t directly for you. Rather, it’s to protect your loved ones in the event of emergencies or for years down the road.
Think of the needs of your children, spouse or elder family members for both of the following situations.
Financial Security
Life insurance assists with your family’s financial needs when you’re no longer able to provide – either through a life-changing injury or death – and offers a greater sense of security in the meantime. At this point, your policy can help with:

  • Giving money directly to your beneficiaries.
  • Helping your family or loved ones pay their bills.
  • Funding a child’s future education.
  • Supplementing or providing for a spouse’s retirement.
  • Funding care for your elderly parents, whether that’s nursing home expenses or a caretaker.

Replacing Income and Labor
Even with these points in mind, you might avoid taking out life insurance, thinking it’s too expensive or that you can plan for these events on your own. Yet, in addition to the future financial security it provides, it also can be used to replace your income, whether you pass away or a severe injury puts you out of work.
As a result, this source of income can assist with:

  • Paying for funeral expenses.
  • Paying off debts. When temporarily injured, you’re still expected to pay student loans, car and credit card payments. Should you pass away with debt in your name, your policy helps your family pay off the outstanding amount.
  • Paying for various day-to-day expenses, including food, clothing and housing.
  • Making payments toward education and retirement.
  • Buying a home.
  • Paying for a loved one’s wedding.

However, some adults avoid thinking about life insurance entirely. Even if you are a stay-at-home parent, self-employed or a part-time worker, there’s value in your labor. As such, taking out a life insurance policy in your name can assist with costs related to childcare, transportation and various other responsibilities.
Thinking about purchasing life insurance for yourself or your workforce? Explore the different types of policies and their benefits with an agent at Ion Insurance. To begin, give us a call at 203.729.5261.