Life insurance: Give the gift of security

Man, woman, two children

Life is uncertain. You can’t be sure of specific life events — like when you’ll die. The best you can do for yourself and your loved ones is to plan for their financial needs after you’re gone. You can do that with the lasting gift of life insurance.

Why you need life insurance 

A recent study about the benefits of life insurance found that 86 percent of consumers recognized life insurance can help with expenses at a difficult time and into the future.

Imagine your life and the lives of the people you care about. Now, imagine their lives without you. Quite possibly your family may face some or all of these things:

  • A loss of your earnings
  • The cost of a funeral
  • A mortgage
  • College expenses
  • And many other financial liabilities

For those left behind, financial hardship can be an even greater burden than grief. Knowing your family is cared for later can enhance your quality of life while you’re still alive.

Protect the ones you love

Every family size benefits from life insurance. Spouses, partners and children come to mind when you consider providing for others. Single with no dependents? Your life insurance needs may appear limited at first. But what if you have a disabled relative or aging parents to care for? A life insurance policy can even help meet the needs of your extended family.

Life insurance really serves the needs of many lives and coverage for one spouse or partner may not be enough. If your spouse or partner doesn’t work full time for a paycheck, don’t ignore all they do for the household. Child care, household responsibilities, children’s activities, and just being a parent all involve time and effort. This is on top of the loss of earned income that may happen.

How much life insurance should you get?

The amount of life insurance needed is a personal decision. Consider buying enough to pay off your mortgage and consumer debts, and replace some or all your income. If you want to pay for college, add that in too! You may be surprised coverage can be inexpensive and widely available. Costs will depend on your age, the age of your spouse and children, debts, and projected funeral costs.

September is Life Insurance Awareness Month. There's no better time to consider your life insurance needs. Not sure what gift to give? There's no better time to consider your life insurance needs. Not sure what gift to give? Life Insurance available through LGFCU may be the answer. Start planning for your family’s future security today.

The advice given is for information purposes only. For additional guidance, contact an insurance agent. 

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