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Four ways that life insurance protects the people you love

Picture this: You come home from a hard day at work, and find that your son has made dinner and hand drawn a card that reads "I love you." Suddenly, your day isn’t so hard any more.

Sometimes it’s just that easy.

Your children, mother, significant other, husband, sister – who are the people you love? These are the people life insurance was made for. The ones who make you smile, the ones who support you – and the ones whose future you want to protect.

Whether you choose a permanent life policy or term, life insurance can:

1. Provide income: Life insurance can’t replace you, but it can replace some or all of your income if you die. It can cover the cost of funeral expenses and help pay off debts, as well as day-to-day expenses, like food, clothing, and housing. For the longer term, life insurance can help pay for college tuition or ensure retirement dreams are realized.

2. Help with household needs: Think of all the work a stay-at-home parent provides. It’s invaluable, and insuring them is too. Life insurance can pay for vital household services like childcare, transportation and household chores.

3. Supply benefits you can use during your lifetime: If you choose whole life insurance, the cash value in your policy, the “living benefits,” can help pay for life’s events such as buying a home, a wedding, or educational expenses. As you pay the premiums of your whole life policy, the cash value builds and you can access those funds. Some important things to keep in mind, the cash value in a whole life insurance policy is accessed through policy loans, which accrue interest at the current rate. Loans will decrease the death benefit and cash value.

4. Leave a lasting legacy: Life insurance can create a financial legacy – funding the future and fueling dreams. From a favorite nonprofit to starting a scholarship program – the legacy you leave behind is all up to you.

Want to find out more? Contact an agent. He or she will listen to your needs, and help you determine the best options for you.

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