August 3, 2017 // All Lifestyle
Every stage of life comes with different plans and priorities. Because of these shifting concerns, it can be easy to assume that life insurance is only important during certain times of your life. But when you take a closer look, life insurance is able to help in unique ways throughout many phases of life. Consider these life stages and how life insurance can fit into the equation:
Did you know that nearly 70%1 of today’s bachelor degree recipients leave school with debt? If you had a co-signer on your student loans, or want to make sure that your family is not saddled with your debt in the event that something happens to you, it can be a good idea to have a plan in place with life insurance.
Families in their 30s may be thinking about how to help protect their young children. If something were to happen to you, it’s important to make sure that your partner is able to take care of your children in your absence. Life insurance can be a sensible plan to help protect their futures.
Families in their 40s may have children that are in high school and even getting ready to go off to college. Leaving a financial legacy can help your spouse to fund the children’s college education in the event that your income is no longer part of the equation.
Many people are in the “Sandwich Generation,” that is, they are taking care of their aging parents and their own children at the same time. Because of this balance, if something were to happen, it could put many family members at risk of financial burden. Life insurance can help your family members move on financially in the event of your death.
For those in their 60s and 70s, it may be time to start thinking about final expenses. Term life insurance can provide a way to take care of final expenses for seniors and help to make sure that their families are protected. These term policies can be converted to a permanent life policy later on.
Life insurance is a critical part of helping to protect your family at any stage of life. Don’t wait to give those you care about the most the help they’ll need when you’re not there. AAA Life Insurance Specialists can help you determine the best way to help protect the ones that mean the most to you.
1 Marketwatch, America’s growing student-loan-debt crisis, Jan 19, 2016
Premiums are guaranteed. They are level for the term period and increase annually thereafter. Premiums may vary based on your personal health history and underwriting guidelines. The answers provided to the health questions are used to determine eligibility for coverage. Not all applicants will qualify. Product and its features may not be available in all states. Coverage ends at age 95. Life insurance underwritten by our affiliate, AAA Life Insurance Company, Livonia, Michigan. AAA Life Insurance Company is licensed in all states except NY. CA Certificate of Authority #07861. This article is an outline of the coverage provisions and does not contain all of the benefits and exclusions. See policy for specific details of coverage. Traditional Term Policy Form Series ICC11-1201/TL-1201 (In OR: ICC11-1201). © 2017 All Rights Reserved
There are benefits to buying life insurance when you’re young, even if you don’t yet have financial dependents.
Life insurance can be used to help charities that are close to our hearts.
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