Life Insurance

It can be difficult to consider life insurance options because of the underlying implications. Contemplating the end of one's life is often fraught with fear and anxiety. If you have no life insurance, it is important to consider for a variety of reasons.

Life Insurance can help to offset costs related to your final expenses. If family or other dependents depend on you financially, life insurance can fill the income gap your death will create.

It may be helpful to think of acquiring life insurance as an act of care, rather than a reminder of your mortality. Payments from your permanent life insurance policy can help your family with daily living expenses, mortgage payments, college tuition, etc. Even if you currently earn no income, you may still require life insurance. After all, in your absence it may be necessary to pay someone to do all of the things you do to keep the home running.

Determining how much and what kind of life insurance you need requires careful consideration. Whether or not to add riders adds another wrinkle that an insurance professional can help you straighten out.

enerally, permanent life insurance can be an attractive option for those wanting life long, rather than temporary coverage. Permanent life insurance allows you the option of leaving beneficiaries lump sum payments that are free from many of the tax burdens that will impact your estate. Additionally, these policies often build cash value from which you can borrow.

There are some benefits to riders as well. These are options you can choose to include, which will enhance your policy. Some examples include an accelerated death benefit, which can make a portion of your death benefit available to you while you are still living if you are terminally ill, confined to a nursing home, or suffer another catastrophic health event. It is important to remember that the amount you withdraw will be deducted from the amount payable to your beneficiaries upon your death.

Term life insurance provides coverage for a specified period. This option may be attractive if you want the policy only while children are in college or until the mortgage debt is retired.


There are a number of considerations when purchasing life insurance. Talk with your insurance professional about your financial circumstances, health, goals and needs to determine which policies and/or riders are appropriate for you.

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