September is Life Insurance Awareness Month.
This occasion gives you a good opportunity to think of how life insurance can help you at various stages of your life.
When you’re married, if you or your spouse died life insurance proceeds could be used to help pay off the mortgage, car loans or student loans. If you have children, your need for insurance intensifies because you’ll want to have funds available for education and other purposes should you pass away.
Even after your children are grown, you may well need life insurance. For example, if your spouse outlives you by a decade or more, will he or she have enough money to enjoy a comfortable lifestyle?
And when you’re retired, you could possibly use the cash value from permanent insurance to help pay for your living expenses, keeping in mind that this may affect your death benefit.
Life insurance offers a lifetime of benefits. So celebrate Life Insurance Awareness Month by making sure you have the coverage you need.
This is Gary Coon, your Edward Jones financial advisor located in Port Clinton.