Situation

Consideration

Dual-earner

If you die prematurely, can your family support itself on your spouse’s income alone?

Stay-at-home parent

According to Life and Health Insurance Foundation for Education (LIFE), providing childcare, transportation, cleaning, cooking, and other household activities is valued at more than $40,000 per year.  Can your spouse afford to pay for these services?

Empty nest

Your mortgage might be paid off and your children self-supporting, but can Social Security and savings support the lifestyle you worked so hard to achieve?  Will there be something to pass on to your grandchildren?

Single

You may think no one else depends on you financially, but will you need to support aging parents or siblings?  Can your extended family cover your final expenses and any outstanding debts you may have? 

Misconception

Truth

“It’s too expensive."

The loss of your income or your role as a stay-at-home parent could cost your family far more.  

“I’ll make the wrong decision.”

Finding the right solution to your unique needs can be confusing.  That’s why your financial representative will work with you one-on-one to help you protect the things that are most important to you.

“I don’t have time to talk with my financial representative"

“

The coverage I have with my employer is enough"

Busy schedules do make it hard to plan for the future, but spending the time upfront to protect your family will save them something more precious than time – it will save them from financial worry at an already difficult time.  Plus, your financial representative will work with you to find a convenient time to meet.

The coverage provided by your employer is not based on your family’s unique needs.  It does not consider the unique expenses your family will be left with in your absence or financial goals you have.  And, it generally only provides coverage while you are employed with that company. 

The goal of life insurance is a simple one – to make sure that your family is taken care of in case you should die prematurely. The emotional stress of losing a loved one is traumatic enough, but you don’t want your family dealing with financial stress too. 

Help your family remain financially secure

When shopping for life insurance you need to consider the financial needs of your family such as mortgage balance, outstanding debt, children’s education, final expenses and helping your family maintain their current lifestyle.

Getting life insurance sooner pays off

One other thing to remember when it comes to life insurance – the younger and healthier you are, the more insurable you are and, therefore, the better your rates. So, if you purchase your policy early in life and live a healthy lifestyle, you can guarantee yourself some of the best rates available.

In order to ensure appropriate coverage, you first need to understand the benefits of each type of insurance.

• Term life
• Whole life
• Universal life

Talk to me a  Financial representative

As a Financial representative I cannot only help you determine the type of insurance, but also figure how much life insurance you may need . Plus, if you are a woman, senior, or a parent of a young child, you can discuss your unique needs with me a Financial representative.

Keep in mind that you don’t necessarily want to rely on life insurance coverage (usually term) that you have through your employer. In most cases, coverage ends when your employment does. Having your own personal policy assures that you are covered at all times, regardless of your employment status.

Life insurance can be complex – let a me a Financial representative make it easier to understand. Your financial representative will give you straightforward, honest answers to your questions and help you determine the coverage that will best benefit you and your family. 

You’ll sleep better at night knowing that if the worst should happen, your family will be covered

 Stay at-Home Parents Need Life Insurance Too

Imagine the cost of hiring a part-time housekeeper, a personal chef, a day care provider, a psychologist and a driver.  You’d have to be pretty wealthy, right?  Stay-at-home parents perform all these jobs, and they do it without getting a paycheck.  Sometimes they don’t even get to take a sick day.

Imagine how much money a stay-at-home moms or dads would make if they were paid for their work.  Think about the amount of time spent on housework, cooking, transportation and childcare.  According to a recent study by Salary.com, the average amount of time spent working as a stay-at-home parent is 92 hours per week¹!  Now imagine the loss of a stay-at-home mom or dad – it would be emotionally devastating and could put the family’s financial security at risk.

Not enough time in the day

With one parent working outside the home and the other possibly putting in over 90 hours a week, it’s not surprising that there is little time left to plan for the family’s financial future.  If this sounds familiar, you’re not alone.  While your family’s needs and goals are unique, your battle to find time to protect what you have is shared.

In fact, a survey  shows most stay-at-home parents (71 percent) think both spouses should be insured.  However just 31 percent of those households actually have life insurance to cover both parents².  Losing a loved one is hard enough.  A family shouldn’t have to suffer financial pain in addition to the emotional pain.

The survey also shows nearly a third of Americans are not insured and only one in five have enough coverage to provide more than three years of their current income.  That’s not enough to maintain a family’s standard of living for very long, while also paying for final expenses such as funeral costs, attorney fees and final medical bills.  The average funeral alone can cost between $6,500 and $10,000³, not including cemetery fees.