When Do You Really Need Life Insurance?

May 17, 2017

It’s not often we quote classic 80’s movies, but in this case, we’ll make an exception. Ferris Bueller said it best when he mused, “Life moves pretty fast. If you don't stop and look around once in awhile, you could miss it.” We tend to overlook the key moments in our lives when we should be evaluating what is truly important to us. Think of those who may depend on you financially and realize that it’s crucial to secure their future sooner rather than later. Here are key moments in life when you NEED life insurance:

Marriage - When you’re married, finances typically get combined and you enjoy a merged income. If something were to happen to you or your spouse, the household income would suffer. Life insurance can supplement that income for your loved ones to continue their standard of living and help pay for funeral expenses.

Children - Besides budgeting for diapers, daycare, and saving up for college, you should reevaluate your life insurance coverage when you start to have children. For each child, you should calculate their future college tuition into your death benefit. Don’t forget to include the price of books and lodging into your calculations.

Buying a Home - Purchasing a new home for your growing family provides them with comfort and security. However, if the unthinkable happens and you pass away, would your spouse be able to make mortgage payments on their sole income? Most likely not. Having an insurance policy in place that can assist them in paying the mortgage will allow your loved ones to not be burdened.

50th Birthday - If you’re not too far from hitting the big Five-O, then looking into life insurance with long term care benefits is wise. About 63% of adults age 65 will require long term care services. Plus, the number of people who will need long term care is projected to double by 2030. Having a life insurance policy that is designed to cover long term care in the future is worth exploring during this milestone.

 



Category: Life Insurance

Category List


Tag List

underwriting (1)
Brokers Alliance Open (1)
FIA (1)
Gift (1)
MAC (4)
Universal Life Insurance (4)
Baby Boomers (1)
business owners (4)
march madness (1)
Annuities (36)
Social Media (8)
agent resources (1)
CSO (1)
Financial Planning (20)
Inflation (1)
case studies (3)
Life Insurance Brokers (6)
Executive Bonus Arrangement (1)
tools (2)
Annuity Update Show (11)
Clients (2)
gul (4)
Market Exposure (1)
2019 (1)
Income (1)
life happens (1)
Retirement Planning (24)
review (2)
digital tools (1)
Immediate Fixed Annuities (1)
Featured MAC App (2)
Facebook (2)
Fixed Indexed Annuities (2)
business planning (6)
Annuity (3)
Additional Earning (1)
Life Insurance Trends (21)
advanced markets (1)
permanent life insurance (4)
Waste Management Open (1)
Brokers Alliance (8)
Fixed Annuities (9)
earning opportunities (1)
Investments (2)
Charitable Giving (3)
Video On-Demand (2)
business (1)
Hybrid Products (1)
Best Rates (1)
Asset-Based LTC (1)
Production (1)
consumer marketing (8)
Income Planning Academy (1)
guarantee (1)
networking (1)
Long Term Care (5)
Brand Values (1)
Life Insurance Awareness Month (6)
Gender Gap (1)
Prospecting (6)
Tips (4)
Quotes (1)
LifeBrain (1)
life insurance quotes (1)
rates (1)
Life Insurance (96)
products (5)
Benefits (1)
Healthy Living (1)
Sales (25)
guaranteed universal life (1)
Legacy (1)
indexed universal life (2)
training (9)
resources (2)
term life (10)
Alternatives (5)
Premium Finance (5)
Sales Concepts (18)
Breast Cancer Awareness Month (5)
Leaderboard (1)
hiring (6)
savings (1)
virtual sales (3)
social security (2)
PPC (2)
Required Minimum Distribution (1)
Generation Y (1)
Deferred Fixed Annuities (2)
Charity (2)
Media (2)
estate planning (2)
Tax Benefits (2)
E-App (1)
Millennials (6)
Star Wars (1)
Brokers (2)
presentations (3)
funeral (1)
Life Insurance Broker (15)
MYGA (10)
IUL (15)
Life Insurance Update Show (9)
sales presentations (2)
Alternative Investments (2)
Retirement Strategy (4)
Legacy Planning (1)
Variable Annuities (1)
MAC App Feature (1)
Breast Cancer Research (1)
leads (6)
Insurance (21)
life 101 (2)
Financial (4)
illness (1)
Life Insurance Evaluation (8)
Index Universal Life (1)
quoting (1)
Content Building (2)
Marketing (14)
Donation (1)
trends (1)
Cash Value (1)
business solutions (4)
Retirement ACE (1)
private pension funding (1)
injury (1)
business owner solutions (1)
myAdvisorCloud (4)
PBR (1)
premium deposit account (1)
Pitch (1)
Life Quotes (4)
Long-Term Care Awareness Month (1)
Death Benefit (2)
Roth (1)
Market (1)
Retirement Investment (3)
Advice (1)
Illustrations (1)
Annuity Concepts (13)
RMD (1)
IRA (1)
Beneficiary (2)
sales kit (2)
buy sell agreement (1)
Health Care (2)
online resources (1)
Protection (2)
Financial Legacy (6)
DOL (2)
industry trends (1)
Mobile App (1)
Interest Rates (1)
key person (1)
life insurance awareness (1)
Social Optimization (3)
PIA (2)
Quoting Tools (1)
life concepts (1)
end of year (1)
Life Insurance Check Up (7)
BlackRock (1)
Compliance (1)
living benefits (8)
term (6)
analysis (1)
selling (1)
Indexed Annuity (3)
final expense (1)
Retirement (13)
Looking Forward, Giving Back (1)
Webinar (4)
Product Updates (1)
Training Event (1)
Economy (1)
advanced planning (2)
non-med (3)

Tag Cloud

Webinarlife 101sales kitAnnuity ConceptsCash ValueanalysisPremium Financeearning opportunitieslife happensLife Insurance Update ShowIndexed AnnuityquotingSales Conceptsprivate pension fundingIRAfuneralbusiness owner solutionsMACtrendssavingsRMDDeferred Fixed Annuitiesguaranteed universal lifeRothComplianceFinancialestate planningHybrid ProductsLife InsuranceillnessMobile AppHealth Carelife conceptsbusiness solutionsInvestmentsagent resourcesMarketingQuoting ToolsRetirement InvestmentSocial OptimizationLong-Term Care Awareness MonthratesPBRvirtual salesFinancial LegacyIULFIAStar Warsdigital toolsLife Insurance Check UpProtectionnetworkingtoolsterm lifeFixed Indexed AnnuitiesMarket ExposureRetirement StrategytermAlternative InvestmentsFacebookAnnuitiesPPCpremium deposit accountDonationRetirement ACEIllustrationsDOLmarch madnessGender Gapguaranteeonline resourcesliving benefitsLifeBrainInterest Rates2019E-Append of yearLegacyLife Insurance Trendsnon-medproductsFeatured MAC AppProduct UpdatessellingUniversal Life InsuranceBrokers Alliance Openbusiness planningInflationLife QuotesWaste Management OpenProspectingsocial securityDeath BenefitLeaderboardContent BuildingAsset-Based LTCMYGALooking Forward, Giving Backlife insurance awarenessProductionkey personreviewGeneration YHealthy LivingMediaAnnuityTipsMAC App Featurepermanent life insuranceunderwritingClientsPitchBreast Cancer Awareness MonthTraining EventLife Insurance Awareness MonthExecutive Bonus ArrangementAdviceLong Term CareRetirementindustry trendsLife Insurance EvaluationTax BenefitsVariable AnnuitiesBeneficiaryresourcesgulVideo On-DemandLife Insurance BrokersIncome Planning AcademyBest RatesLegacy Planningadvanced marketsFinancial Planningcase studiesSalesMillennialsFixed AnnuitiesBrand ValuesLife Insurance Brokersales presentationslife insurance quotesCSOadvanced planningSocial MediaGiftMarketInsurancetrainingBrokers AllianceCharityAdditional EarningQuotesAnnuity Update ShowBrokersRetirement PlanningCharitable Givingleadsindexed universal lifehiringmyAdvisorCloudBreast Cancer ResearchPIABaby BoomersBlackRockpresentationsImmediate Fixed AnnuitiesRequired Minimum DistributionBenefitsAlternativesbusiness ownersbusinessinjuryEconomyIncomeconsumer marketingbuy sell agreementfinal expenseIndex Universal Life


Archive