September is Life Insurance Awareness Month. Navy Mutual wants you to know more about how life insurance works, learn more for your own decisions, and see how it can be a financial safeguard during a family’s time of need.
Everyone’s situation is unique and only you can determine the exact amount of life insurance you need. One of these descriptions could be your own current position:
Single and in Your 20s - You may need life insurance to pay off student loans, car payments, credit cards and other debts so they do not become the responsibility of another family member. Hard as it is to imagine, if you die, your family also needs cash on hand to cover your final expenses.
Married with Young Children - You most likely have modest savings and big responsibilities — a mortgage, child care and other monthly bills. If you die prematurely, life insurance will help your spouse maintain your home and provide for your children’s support, now as well as in the future.
Single Parent and Sole Breadwinner - Life insurance will help cover your children’s day care costs and other living expenses and fulfill plans for their future education if you are no longer there to provide for them.
Married Homeowner with no Children - Life insurance can provide the money to meet financial goals and help your spouse hold onto the assets and the lifestyle you’ve both worked hard to achieve.
Married with College-age Children and/or Elderly Parents - A premature death could deplete your retirement savings or other assets. Life insurance can help replace lost income to cover the cost of current living expenses, college tuition and/or your parents’ care.
Married with Grown Children - You may want to consider life insurance as an opportunity for supporting your favorite charities, building a legacy for your children and grandchildren, or covering estate taxes.
To get more information about how life insurance can work for you, visit the Navy Mutual Education Blog.
Navy Mutual has a Life Insurance Needs Calculator that can help you determine what is best for you. If you want to discuss your own life insurance needs, contact us by calling 800-628-6011 or schedule a phone call with a Representative.
Get crucial facts about life insurance, hear personal accounts about how life insurance has helped other Americans, and get a number of useful decision-making tools. Visit Life Happens during September.