December 13, 2022 // All //
Think about everything that you do for your loved ones, and everything that your loved ones have done for you.
People show their love for others in unique ways. Many people have been on one end of a grand gesture a few times in their lives: helping provide care for an elderly parent when they need it; saving up to surprise a spouse with a weekend getaway when they need a break; or paying extravagant youth sports league dues and private coaching lessons, so a child can keep playing with their friends.
Other times, the gestures are smaller and can go unnoticed, like tucking an encouraging note in a child’s lunch box or waking up at 5 a.m. to shuttle someone to the airport. Maybe it’s a series of small acts, like making personal sacrifices to put more money towards the future college educations of your children.
No matter if they’re big, small or in between, we do these things to show our love to those we care about them. Selfless acts come from a good place, even if they go unappreciated, as it’s others who reap the benefits of something you put in motion.
This is also at the core of why it’s important to have life insurance. While other types of insurance, like health or dental, help pay for routine care and keep the costs of major procedures down, a life insurance policy is about looking ahead* and can be one of the most thoughtful, selfless and kind acts you do for your loved ones.
If you’re unfamiliar with how life insurance works, we have resources to help you learn. But the most basic definition is this: you pay a monthly premium to an insurance company, and if you die, your beneficiaries receive a sum of money for a covered claim.
That money is generally to help them pay for expenses they rely on you to contribute to, but it can be used in any way that helps them financially. There are frequently immediate expenses incurred, like funeral and burial costs. But if someone depends on you financially, you’d want to know that they can live in the same home, go to the same schools, and maintain the same lifestyle.
Life insurance is a gift of love that we give to those who love us. While we hope we never need to use it, it’s good to know that it’s there.
Your life insurance needs are dependent on your financial situation, but many have people in their lives who would be impacted financially if something happened to them. Is your situation similar to any of the following, who could benefit from life insurance?
• Stay-at-home parents, who do so many unpaid tasks that keep families growing and thriving
• Single people who have joint debt they don’t want to leave to others, or family members they want to take care of
• Couples just starting out who have joint bills, obligations and future dreams
• Couples transitioning into retirement that may have financial gaps in their nest-egg
• Families with young children, who may not have enough life insurance coverage from their employer’s benefits
• Anyone whose income is important to their family’s financial well-being
In short, if you’re reading this, you likely need life insurance. If you’re young and healthy, there’s no better time than now to lock in a policy at the lowest possible rate, but if you’re farther along in life, there are plenty of products available to help you meet your specific needs.
This is a selfless act that doesn’t have to break the bank. AAA Life employs insurance professionals that can help find the right kind of coverage for you, and for the “others” who depend on you.
* Some types of life insurance have the potential for more immediate benefits, such as cash value and an Accelerated Death Benefit that can allow early access to a portion of the policy’s proceeds.
If you’re hesitating about getting life insurance—here are eight reasons to do it today.
What’s the difference between a group life policy and an individual policy? Does it make sense to have both? We take a look at your options here.