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080822 Less Common Life Insurance Needs

On top of the most common reasons for buying life insurance,

It can help cover some less common needs.

 

These could include…

 

*Insuring Children

Buying a policy on a child can ensure that the family will financially

Survive the loss of the child, but keep in mind that such a loss is

Fairly unlikely. It can also ensure the child’s ability to qualify for life

Insurance in the future. That could be helpful in the case of a health

Diagnosis that might make it harder to pass the underwriting process.

 

*Replacing Retirement Benefits

Life insurance is often marketed as income replacement for an

Insured person during their working years, but some retirees may

Choose to keep theirs after leaving work. It can be used to replace

The loss of any retirement income for their spouse or any dependents. 

 

*Investment

Permanent life insurance can provide you with a potential income

Source. You can access your cash value once it has built up to a

Certain level. Some policies also allow for an accelerated death benefit,

Which allows you to access the death benefit while you're still alive in

Case of a triggering event. That could include being diagnosed with a

Terminal illness, needing extreme medical intervention, or needing

Nursing home care.

 

- Emily Guy Birken

https://www.thebalance.com/who-needs-life-insurance-2645793#toc-why-buy-life-insurance

 

 

Hayden Childs

Alabama Licensed Agent

(205) 269-1382

www.haydenchilds.net

 

“The grief is bad enough,

Don’t leave the burden

To your family!”

 

https://www.rememberingalife.com/

 


 

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