If you’re contemplating Term Life insurance, a key question is whether there are people in your life, including family members and employees, who depend on you financially. For parents, business owners, and even young people with debt, Life insurance provides a safety net that can help provide funds to cover mortgages, childcare, educations, and other important expenses if you were no longer around.

You may benefit from Term Life insurance if you’re:

• A young couple. Even if you’re just starting out, if you rely on two incomes to pay a mortgage or maintain a lifestyle, consider the impact of losing one. This is also the best life stage to buy Life insurance because the younger and healthier you are, the better your rates will be.
• The sole bread winner. Losing a single source of income can be devastating to a family. In addition to providing funds for long-term financial goals, Life insurance proceeds can have the immediate effect of income replacement, allowing a surviving parent to remain home with children for some time.
• A stay-at-home caregiver. Families often assume that only those who earn an income need Life insurance, but it’s a mistake to overlook the overwhelming contributions of stay-at-home caregivers. If they weren’t around to care for loved ones and manage households, there would be a real financial cost to fill those roles. Life insurance is an important asset for anyone who is relied upon as a caregiver to children, spouses, parents, or other relatives.
• Saddled with debt. If you have debt that your family might need to take on, you may want a Term Life policy that covers at least the duration of your loan repayments. This is particularly important if others have co-signed your student loans.

Securing Term Life insurance is a great way to ease your mind by helping to protect those you love.

Learn more about Life insurance.

SMRU 1946826