It’s not the most pleasant thing to think about, but planning now for your family’s future can help protect them and keep them financially secure when you’re not around to take care of them.
If you’re wondering if life insurance is right for you, ask yourself:
If I died tomorrow, how would my family be impacted financially?
How will my family afford the home we’ve worked so hard to provide?
Will my family have the money to manage the cost of daily living and cover my final expenses?
- Without insurance protection, will I leave my family in debt or financial risk?
I know it’s not a happy thought, however, it’s important to think about the financial security of the people you may leave behind. If you have a spouse, a family, consider how they will survive without your income.
The mortgage will still need to be paid; other bills will still come due, and provisions may need to be made for the cost of your kids' college education.
Bottom line: Most things that your income currently pays for or helps to pay for won't go away if something happens to you.
One solution: You may want to consider life insurance – an effective tool to help replace your income.
Finding the Life Insurance Policy for You
Life is all about options and choices, and so is Farmers Life® insurance. With a variety of coverage options and products, you can find the coverage that you want for your family and your needs.
Understand the difference between Term and Permanent coverage.
Term Coverage - Term life insurance offers affordable life insurance option with level premiums that generally last for a 10-, 20-, or 30-year term.
Permanent Policy - Whole life insurance is a type of permanent life insurance – that can insure you for a lifetime. Premiums are typically level and guaranteed for the life of the policy.
- Whole Life - Whole life is one of the most common types of permanent life insurance offered by Farmers New World Life Insurance Company. Whole life insurance combines a level premium with guaranteed cash values which the policy owner may use to meet a variety of financial goals.
- Universal Life Insurance - Permanent insurance that offers benefits during your lifetime, universal life insurance provides the flexibility, cash value accumulation, and options you may want in a life insurance policy.