We could argue that your income is easily your most valuable asset. So, what happens if there’s an unexpected death that takes that income away from your family?
Most people understand the importance of life insurance — which is half the battle. But many people don’t think they can afford it. And those that do have it often overpay for insufficient coverage.
The Right Coverage for Your Needs.
Enter term life insurance. Term life insurance is a straightforward option for coverage. This type of policy ensures that your family is protected during a specified term (often 10, 20, or 30 years) and comes without the clauses and strings often tied to more complicated whole life policies. It’s also much more affordable: a 30-year-old male, for example, may pay around $4,675 a year for a whole life insurance policy versus only $242-$403 a year for a term life insurance policy.*
That’s significant savings that could help you pay off a student loan or credit card balance, build up your savings for the future. Whatever your needs and priorities, that extra cash used wisely could help improve your overall financial health. Which means, at the end of a term, you’ll likely have fewer debts and less dependents on your income, decreasing your need for life insurance beyond that point.
And having a less expensive plan does not mean you get less coverage. You can easily determine the amount of coverage you and your family need — no more, no less — with the DIME Method, which considers your unique financial situation and obligations.
We Can Help You Protect Your Income & Your Family.
If you want to know more about term life insurance, we’re here to help. We’ll talk through your goals, needs and responsibilities with you to help choose the policy that’s right for you and your family.
