You’ll likely reach a few milestones when you and your family may think about the value of life insurance coverage. A recent COUNTRY Financial Security Index survey found that 3 in 10 Americans don't have life insurance for themselves or a spouse. While it may not be a priority, meeting with an insurance agent to see how life insurance could protect your loved one is an important part of achieving your financial goals.
We all know life is unpredictable. To protect your family from the unthinkable, consider five life milestones that should prompt you to check in with your insurance agent and ask about life insurance.
1. Going to college -- Life insurance can help pay for those college loans if something happens to you. Depending on the type of loan, parents may be responsible for student loans.
2. Getting married -- Your spouse may need help paying for expenses if something happens to you.
3. Having a child -- If you’re married and have kids, the money from a life insurance death benefit could help your family carry on financially if they no longer had your income. In fact, more than one-third of households say they’d feel the financial impact within one month if the primary income earner passed away.
4. Buying your first house -- If anyone relies on your income to help pay the mortgage, the money from a life insurance death benefit could help ensure your family stays in their home well after you’re gone.
5. Becoming an empty-nester -- whole life insurance can provide benefits while you’re still living, such as supplementing retirement income or making a down payment on a vacation home.
Take the time to reflect on the changes you experienced this year, and what may be down the road. Reach out to your insurance agent for information about how they can help you protect the things that matter most and plan for your future.
Want to learn more about life insurance options? Reach out to one of COUNTRY Financial’s Colorado agencies in Fort Collins (970) 221-9655, North Denver (303) 940-6864 or South Denver (303) 368-5202, with questions or visit Life - COUNTRY Financial or learn the difference between Term vs Whole Life Insurance.