21 Sep September is Life Insurance Awareness Month!
Yes, we know that life insurance is not everyone’s favorite topic- but we need to have the talk.
At SAVA, we value our clients and their families, so we want to make sure that you are protected in every way. If others depend on you for financial support, part of your financial plan should include how you will provide for them in the event of your death. I know, not pleasant; but look at it as a gift you will be leaving behind for your loved ones.
Your planning will take the pressure off of your family and give them freedom from having to make tough financial decisions, provide a comfortable life for your spouse or your children, and may provide college tuition for your grandchildren. While this may seem overwhelming, especially to some of our younger families, it will all make sense once you learn the basics and why it’s necessary.
Reasons You Need Life Insurance:
- It’s cheaper (especially if you are younger and in good health)
- You have children
- You don’t want to leave your family with debt
- Funerals are costly
- Less stress on mourning family members
- Some policies offer built-in savings
- Your employers insurance may not be the best for you
You Might Be Wondering…How Much Insurance Do I Need?
To find the right amount of coverage, it’s important to weigh your dependents’ current lifestyles and spending needs against their future sources of income and assets. SAVA can help you figure out how much your family will need to replace this lost income over this length of time, should something happen to you.
The Basics of Life Insurance
If you are married, it’s important for both spouses to have a life insurance policy. If both people bring in an income, a death can be a difficult financial loss. Also, if a stay-at-home parent should pass away, expenses such as childcare and other domestic items can create financial hardship, too. There are two basic types of life insurance: term life insurance and permanent life insurance. The type of life insurance policy that best suits you will depend on your unique needs.
Call SAVA today to learn [email protected] 860-437-7282