As you go through each stage of life, your relationship with money, income and savings will change. When you start a family, for example, your priority shifts to financially protecting those you love. Whereas when you’re nearing retirement, your focus may shift to leaving a legacy.
Life insurance is part of the foundation of a sound financial plan. It can help you protect your assets and the people who rely on you financially. The chart below shows how life insurance fits into a plan and provides a way to think about broader financial priorities as you work towards achieving your goals.
No one really wants to think about dying. But if someone depends on you financially, it’s a topic you can’t avoid. In the event of a tragedy, life insurance proceeds can:
Getting life insurance doesn’t have to be hard (or boring). At First Underwriters, we walk through 360 Roadmap to see if Life Insurance is right for you We have some easy steps for you to walk through to see if life insurance is right for you. You’ll also find information and interactive tools to help you get a sense of how much and what kind to buy, plus information about how different life events—such as having children or buying a home—can affect your insurance needs. So why not get started!
There are many types of life insurance, however, their are only two foundations to the life insurance product. Term life insurance and permanent life insurance. Term insurance offers coverage for a specific period of time and pays the death benefit of the policy if the person insured dies during that “term.” Permanent life insurance provides protection for one’s lifetime; as long as sufficient premiums are paid, the benefit will be paid no matter when the insured dies.