Clipboard check list marks with pen. Vector flat cartoon illustrationJust as you might schedule an annual physical to determine if you are in good health or in need of medical attention, reviewing your life insurance once a year can help ensure you have a healthy amount of coverage.

A person’s needs change as they reach various milestones. These include marrying, buying a home, having children, divorcing and retiring.

Then there are unanticipated events, such as a primary wage earner becoming seriously ill, disabled, or worse, losing their life. These scenarios also create needs – ones with the potential to drain the finances of a family without an insurance safety net.

Are you ready for any detours you may encounter along the road of life? Let’s find out.

About individual coverage

Many single people mistakenly believe life insurance is designed for families, to provide a surviving spouse and kids with income to maintain the household if the spouse who earns the most money passes away.

While that is indeed an important purpose of coverage, unmarried and/or childless adults often have debt. If you died suddenly, who would make your mortgage payment or pay off any credit card balances? Moreover, if you have been providing financial support to family members, would your death end that assistance abruptly? Insurance benefits can cover these costs and payments.

Then there is the subject of funeral and burial costs. Singles are like those who are married in that they typically prefer to avoid this topic. However, it is important to deal with for several reasons.

First, do you want grieving loved ones scrambling to make your arrangements? Second, final expenses can add up quickly. Third, are you expecting family members to foot the bill to bury or cremate you? Will you lay this burden on their shoulders?

If you truly care about them, you won’t!

Ensuring a child’s future

Did you know life insurance benefits could be used for a child’s college tuition? A policy with a cash balance accumulates value on a tax-deferred basis. The funds in the account may be borrowed tax-free as a loan; or withdrawn.

Especially for a family with no savings, life insurance could make the difference between able to pay for college or the child sacrificing their dream – a dream that is often shared by the spouse prior to their untimely passing. Learn more

Insurance after divorce

Have you thought about the impact divorce has on insurance coverage?

Depending on the circumstances surrounding the dissolution of a marriage, an insured spouse could be legally required to name the former spouse as the beneficiary of their disability or life insurance policies, to ensure continued court-ordered alimony and/or child support income.

What’s more, were you aware a spouse with health insurance via their employer’s group plan could also be required to continue providing coverage for the couple’s children, once the divorce is final?

Retirement scenarios

Once your working years are over, your lifestyle will depend heavily on your financial resources.

Would you prefer to be a retiree who is able to not just make ends meet, but also leave an inheritance for future generations of your family, donate to a favorite charity, make a positive impact in your community, or provide income to the spouse you leave behind – especially if you have remarried?

Life insurance can be used for that.

Good advice is critical

Just as a medical doctor examines and advises a patient, an AmeriLife insurance agent will listen to your needs and help you discover the solution that best fits you and your loved ones.

Our agents have access to numerous affordable coverage options for people at all stages of their lives.

Connect with an agent to get started

 

Your 2018 Life Insurance Checklist YesNo
Do you know life insurance could benefit single adults as well as married people and families – in life and after the policyholder passes away?
Insurance policies serve different purposes, depending on what the prospective policyholder wants to accomplish. Have you figured out what that is?
If you died suddenly, would you leave behind outstanding debt such as the mortgage on your home or a credit card balance?
Are you financially supporting a family member or a friend who relies on you?
Were you aware life insurance benefits may be used for a child’s college tuition?
Have you made final expense (burial) arrangements?
Do you understand divorce can significantly affect life and health coverage between current and former spouses and their children?
Have you designated primary and secondary beneficiaries for any policies you currently have – in writing?
When you are gone, would you like your insurance benefits to go to your family, other people close to you, a charitable organization or perhaps a community enhancement initiative?

Clipboard check list marks with pen. Vector flat cartoon illustrationIt’s Time for Your 2018 Life Insurance Checkup

Just as you might schedule an annual physical to determine if you are in good health or in need of medical attention, reviewing your life insurance once a year can help ensure you have a healthy amount of coverage.

A person’s needs change as they reach various milestones. These include marrying, buying a home, having children, divorcing and retiring.

Then there are unanticipated events, such as a primary wage earner becoming seriously ill, disabled, or worse, losing their life. These scenarios also create needs – ones with the potential to drain the finances of a family without an insurance safety net.

Are you ready for any detours you may encounter along the road of life? Let’s find out.

About individual coverage

Many single people mistakenly believe life insurance is designed for families, to provide a surviving spouse and kids with income to maintain the household if the spouse who earns the most money passes away.

While that is indeed an important purpose of coverage, unmarried and/or childless adults often have debt. If you died suddenly, who would make your mortgage payment or pay off any credit card balances? Moreover, if you have been providing financial support to family members, would your death end that assistance abruptly? Insurance benefits can cover these costs and payments.

Then there is the subject of funeral and burial costs. Singles are like those who are married in that they typically prefer to avoid this topic. However, it is important to deal with for several reasons.

First, do you want grieving loved ones scrambling to make your arrangements? Second, final expenses can add up quickly. Third, are you expecting family members to foot the bill to bury or cremate you? Will you lay this burden on their shoulders?

If you truly care about them, you won’t!

Ensuring a child’s future

Did you know life insurance benefits could be used for a child’s college tuition? A policy with a cash balance accumulates value on a tax-deferred basis. The funds in the account may be borrowed tax-free as a loan; or withdrawn.

Especially for a family with no savings, life insurance could make the difference between able to pay for college or the child sacrificing their dream – a dream that is often shared by the spouse prior to their untimely passing. Learn more

Insurance after divorce

Have you thought about the impact divorce has on insurance coverage?

Depending on the circumstances surrounding the dissolution of a marriage, an insured spouse could be legally required to name the former spouse as the beneficiary of their disability or life insurance policies, to ensure continued court-ordered alimony and/or child support income.

What’s more, were you aware a spouse with health insurance via their employer’s group plan could also be required to continue providing coverage for the couple’s children, once the divorce is final?

Retirement scenarios

Once your working years are over, your lifestyle will depend heavily on your financial resources.

Would you prefer to be a retiree who is able to not just make ends meet, but also leave an inheritance for future generations of your family, donate to a favorite charity, make a positive impact in your community, or provide income to the spouse you leave behind – especially if you have remarried?

Life insurance can be used for that.

Good advice is critical

Just as a medical doctor examines and advises a patient, an AmeriLife insurance agent will listen to your needs and help you discover the solution that best fits you and your loved ones.

Our agents have access to numerous affordable coverage options for people at all stages of their lives.

Connect with an agent to get started

 

Your 2018 Life Insurance Checklist YesNo
Do you know life insurance could benefit single adults as well as married people and families – in life and after the policyholder passes away?
Insurance policies serve different purposes, depending on what the prospective policyholder wants to accomplish. Have you figured out what that is?
If you died suddenly, would you leave behind outstanding debt such as the mortgage on your home or a credit card balance?
Are you financially supporting a family member or a friend who relies on you?
Were you aware life insurance benefits may be used for a child’s college tuition?
Have you made final expense (burial) arrangements?
Do you understand divorce can significantly affect life and health coverage between current and former spouses and their children?
Have you designated primary and secondary beneficiaries for any policies you currently have – in writing?
When you are gone, would you like your insurance benefits to go to your family, other people close to you, a charitable organization or perhaps a community enhancement initiative?

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