If you were not aware of it, September is life insurance awareness month. The need for life insurance is always there whether you are single, a single parent, married or divorced. Life insurance is always a part of any sound financial plan.
Their are many benefits of having life insurance. It can be used for final expenses, income replacement, protecting your pension, children’s education, paying of your mortgage, creating a legacy for your children or grandchildren, cover your estate taxes, leaving a gift to your favorite charity just to name a few. Some carrier even offer life policies with living benefits. You may use the policy to cover terminal illness or nursing care either in your own home for compensation caregivers or in a skilled nursing facility.
Don’t be one of those individuals that believe life insurance is too expensive. Of course there are other factors of determining your underwriting classification. Some of those factors are attained age, if you smoke or not, family medical history, your own current health and your height and weight are always taken into consideration. There is always a budget friendly plan available as well as guaranteed issue plans. Speak to your insurance broker and establish a Premium range that is within your budget. Then the broker can research which carrier and plan is available to provide the best overall value and coverage for you.
We all know how fast the months fly and how quickly life can change. Now is as good a time as any to review your financial plan and life insurance needs. Just because Septembers Life Insurance Awareness Month, it doesn’t mean when October rolls around and you start celebrating the holidays that you should forget about your insurance needs.