The Age-Old Question: Should I Buy Life InsuranceBy AARP
Life insurance is not
something most people are eager to purchase, but as we get older, we all start to consider if the pros outweigh the costs. If you are considering if buying life
insurance is the right move for you, keep reading.
First thing's first, you
will need to assess your situation before you start choosing life insurance
plans. Are you employed or retired? Are you children still living at home or
have they left the nest? If your children still live at home, are they young or
about to start college? How you answer these questions, among others,
determines which type of insurance plan best suits your lifestyle and budget.
Here are some tough
questions to ask yourself:
- As I reach retirement, am I
prepared to lose the life insurance policy provided by my employer? When
that is no longer available to me, will I have enough savings to ensure my
family is well taken care of in the future?
- Is my spouse financially secure
enough to cover our monthly expenses if I pass?
- Will my children who will soon
flee the nest be able financially get themselves through school or living
on their own?
- Imagine yourself in your
family's position. If someone in your family passed away today and you
were left to cover the costs, would you be able to?
One important thing to remember is that life insurance is to
protect your family and give you peace of mind. You do not need to spend a
fortune, but if taking the necessary precautions can prevent some of the
financial burden left for your loved ones, then it might be something to
Whether you are interested in supplementing part of your existing
coverage with a small term life insurance policy that covers a particular cost
such as funeral expenses, or you are starting from scratch, it can be a very
simple process. Life insurance policies have simplified their application
process to allow more people access.
Telhio Credit Union members can receive life insurance policies from
our partners at American Income Life Insurance Company. If you're interested in
learning more about your life insurance options with Telhio, visit /add_insurance.html.
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