It’s September, and even though insurance is important every month of the year, this is National Life Insurance Awareness Month.
Life Insurance is a way of financially protecting your loved ones, should you pass away.
We encourage you to take a moment and evaluate your coverage. Do you have an adequate plan in place? If not, this month might be a perfect opportunity to make a change. Protecting your loved ones through adequate life insurance coverage is important and it’s probably cheaper than you think.
It can be troublesome to consider your own mortality, but with adequate life insurance coverage in place, you can rest easy knowing you’re protecting those you love.
How much life insurance do I need?
Many couples obtain enough life insurance coverage to replace their own income entirely because they want their family to continue a lifestyle that they’re accustomed to. The maximum, most insurance companies will provide in life insurance to a person is usually based on their age, and 25 to 30 times their income.
For many people, even an untimely passing can’t stop them from achieving the goals below
Sending the kids to college
Providing income for their family
Paying off the Family house
Contributing a legacy to your church or a charity
Paying off business loans
Providing family with Financial Peace of Mind
If the past year has taught us anything, it’s that life is fragile. Many of us have had loved ones pass before their time. Here are some common reasons why individuals and families obtain life insurance and, in many cases, obtain additional life insurance.
Common Reasons to obtain additional Life Insurance
Marriage
Bought a home
Had a child
Growing career and increased income
To protect family from personal debt
Planning your legacy/estate
Proper life insurance is essential to our financial health. It can keep family safe from debts and can help you provide for your loved ones long after you’re gone. Are you Inspired to protect your loved ones? Click below and arrange a time to speak with Michael Romanello, Owner and Chief Advisor at PRO Financial Network.
Michael Romanello has over 18+ years of experience as a financial advisor, helping individuals and families find the right life insurance coverage for them.