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Monday, May 17, 2010

Why should I buy life insurance?

Many financial experts consider life insurance the cornerstone of a sound financial plan. Yet many of us remain uninsured or underinsured. If you're wondering whether or not you should buy life insurance, ask yourself one question: "Would my death leave anyone in financial difficulty?" If your answer is yes, you may want to think about life insurance and how it may fit into your financial plans:

You're a two-income family
Does your family depend on two incomes to support your current lifestyle? If you died suddenly, could your family maintain its standard of living on your spouse's income alone? If not, life insurance may help to ensure that your plans for the future live on after you're gone.

You're a single parent
According to the Life Foundation® nearly four in ten single parents have no life insurance whatsoever, and many with coverage feel they need more.* As a single parent, you're it: the caregiver, breadwinner, cook, chauffeur, and so much more to your family. With all that's riding on you, life insurance may help to safeguard your children's financial future if you weren't there.

You're a small business owner
What would happen to your business if one of your partners or a key employee died tomorrow? Life insurance can be used to provide the surviving business owner(s) with the funds to buy the deceased owner's interest. Or if a key employee dies, life insurance payable to the company can provide the owner(s) with the financial flexibility needed to hire a replacement or work out an alternative arrangement.

Why might you want to buy life insurance? Because you have a mortgage, a small business, someone who depends on you, long-term financial goals or plan to send your kids to college. Life insurance can help fill the financial gap left in the event you are no longer there. Call me today to discuss your life insurance needs.

Note: Careful consideration should be given to the ownership and beneficiary arrangements of any life insurance purchased for business or estate purposes. You should consult with an attorney and other professional advisors.


Life insurance issued by Farmers New World Life Insurance Company, Mercer Island, WA 98040

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