Plan today for tomorrow

By Erin Ross
State Farm Agent
Pax Leader

Photo by Scott Ableman

Life insurance is a practical way to protect your family’s financial hopes and dreams, yet millions of Americans have no life insurance coverage.

In fact, only 53 percent of adult Americans have life insurance protection. Less than half of those are individual policies, while others depend upon group insurance, leaving them under-insured as well as vulnerable to being uninsured if they lose their job.

When you purchase a life insurance policy, your primary thought is usually security for your family and beneficiaries. Knowing that there will be funds available for your final expenses, the mortgage and income replacement after you are gone can be a great comfort to your spouse or loved ones.

The death of a family member can be devastating to survivors both emotionally and financially. Life insurance can provide cash to help with:

• Immediate needs, including funeral expenses, unpaid medical bills and taxes.
• Income replacement – to allow your family the chance to continue living the life to which they are accustomed.
• Long-term needs, including the costs associated with maintaining your home, including child care, home maintenance, and extended care for a disabled child or elderly parent.
• Life insurance is not for people who die, it’s for the people who live. According to a study by LIMRA, 45 percent of widows and 37 percent of widowers said their spouse had been inadequately insured. Most households hit by a premature death saw a minimum 15 percent drop in income.
• When you buy life insurance, you buy a promise of protection in the event of an untimely death.

By planning for the inevitable now, your loved ones can be cared for in the future.

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