Think it’s too early for life insurance? Think again! September is Life Insurance Awareness Month and we want to make sure everyone knows about it. Life insurance can be a reliable and flexible way to help those who are left behind after you’re gone.
WHY SHOULD I HAVE IT?
The unexpected can happen and we know you want to make sure those you care about are protected and covered. Should you die unexpectedly, costs of funerals, medical bills, mortgage payments, and more can fall onto your loved ones and family. With life insurance, you can help ease those financial burdens while they are going through a difficult and emotional time.
HOW DOES IT WORK?
When you purchase a policy, you’ll begin paying a premium. Your payments keep your policy active. Should you die while your policy is in effect, your life insurance provider will pay out death benefits to your beneficiaries, following your wishes.
WHAT DOES IT COVER?
At it’s core, life insurance covers loss of income, funeral expenses, and other financial needs that those you care about would have to take care of, should you pass away.
Though many life insurance holders use their policy to cover end-of-life costs, coverage can also be used in a number of ways. Your benefits can help your family cover their cost of living, pay outstanding debts, provide charitable gifts and more.
WHEN SHOULD I GET IT?
There is never a bad time to have life insurance coverage, but there are some circumstances and life events you may want to consider.
- If you’re single, your policy can help you plan for the future while you’re healthy. It’ll help cover debts that you don’t want to pass on to family members and provide support for aging parents or siblings.
- If you’re newly married, your policy can help cover your household’s daily living expenses and ensure that your spouse can pay any outstanding debts or final expenses.
- If you have a family, your policy will help you provide for your kids. It could cover your family’s day-to-day costs of living and fund their future expenses, such as college tuition.
- If you are planning for retirement, life insurance helps you transition out of employment. It can preserve your retirement plan by replacing life insurance benefits you may have received from your employer.
- If you’re retired, your life insurance benefits allow you to leave a legacy. You can allocate an inheritance, make a charitable donation, cover the cost of estate taxes and more.
TALK TO AN AGENT
If you have questions about life insurance and want to find the policy that best fits your lifestyle, contact your local AAA insurance professional now.
LIFE INSURANCE AWARENESS MONTH
September is Life Insurance Awareness Month and we’ll be talking about life insurance all month long! Brooke Shields is this year’s spokesperson, check out her story and message here.