There’s no easy way to say this: nothing’s more precious than what you leave behind should you pass away. When you die, life insurance is there to bring support and solace to those you remain.


Why life insurance is essential


Life will go on after you die — it’s as simple as that. What’s important is that you can take steps now to protect the quality of the life you leave behind for your loved ones in the unfortunate event you pass away.


Losing a loved one is a painful and emotional experience. What people all too often don’t remember is that it can also be a source of tremendous financial burden. You may leave behind debts or other expenses. Life insurance can take are of those — and even pay for your funeral.


Life insurance can also help with routine but significant monthly payments, like your home mortgage, help the family maintain its current standard of living, and provide a source of funding for times to come — educational expenses for your children, or even a nest egg for a future retirement.


Purchasing life insurance

Like any other purchase, it’s best to make a fully informed decision when considering life insurance policies. Your Lee Crane insurance professional can help. Here are some questions we consider most important:


  • Will a surviving spouse have a mortgage or other debts to pay back?
    Your family’s individual financial health is a big factor in determining the appropriate level of life insurance protection for you.


  • What will be the cost of living for your surviving family members?
    Again, cost of living is a highly individual issue that your insurance professional can help you explore. There’s no one-size-fits-all solution.


When’s the right time to buy?


Contrary to what you may think, there’s no wrong time to buy life insurance! It doesn’t matter how old you are, whether you’re married or single, or how many children you have or don’t have — life insurance can’t do you any good unless you have it. If, as a new father, the birth of your first child starts you thinking about the future, we think that’s great. As it is with most things, with life insurance, it’s usually better to start sooner rather than later.


Strategies to consider


There are lots of reasons a head of family might consider purchasing life insurance. Here are a few we think are the most common:


  • Help a surviving husband or wife pay a mortgage or debt
    Let’s say you leave behind a $200,000 home mortgage and $40,000 in student debt. That’s a huge burden to place on a family that can no longer benefit from your earning power!


  • Provide for your children’s future
    If you can’t be there, the best way you can support your kids as they move into adulthood is to give them the kind of financial support they need to prepare for jobs, homes, and families for themselves.


  • Replace your salary
    Let’s face it — the loss of a major breadwinner can have a lasting effect on the family’s lifestyle and standard of living. Life insurance gives surviving family members support not only to prepare for the future but to make every day the best it can be.