POLICY POINTS LIFE INSURANCE: WHAT IT COVERS (AND WHY YOU NEED IT)


It’s not easy to think about what your family’s future might be aſter your death. Maybe that’s why so many American households—35 million in fact, according to LIMRA—don’t hold life insurance policies. Yet life insurance can help ensure


a family’s security. By securing a life insurance policy, you can feel confident knowing your loved ones have a cushion to fall back on.


WHY DO I NEED LIFE INSURANCE?


Consider what your income achieves, including the expenses and hoped- for goals it addresses. Life insurance is designed to help your loved ones achieve that, even if your generated revenue stream ends suddenly. Tis includes your children’s education, as


well as care of an elderly family member. Life insurance also helps with immediate financial needs such as:


Funeral and burial costs


Outstanding debts such as a home mortgage, student loans and car payments


Standard living expenses, including utilities and groceries Estate allocation


Trough the distribution of an immediate large sum, life


insurance can prove especially vital to a young family that hasn’t had time to build adequate savings. Te death benefit creates available cash to meet immediate expenses or to be set aside for long-term goals. If you have already grown a nest egg, life insurance can


supplement other family assets. And if your recipients are financially secure, they can fulfill your legacy by donating to a charity or cause you care about.


FIND THE RIGHT POLICY


Tere are many policy options for life insurance; the best one for you depends in large part on your family’s


circumstances. For example, a parent with many children may need a higher coverage amount than a parent with an only child. Also, the needs of your family change. Review your coverage regularly to make sure it’s appropriate. Major life events, such as getting married, buying a home or entering retirement, can trigger a need for changes to your life insurance. Life insurance is an essential component of your family’s


long-term financial plan. You can feel comfort in knowing that if tragedy strikes, those you love and care deeply about can stay on a path to a secure future.


DETERMINE THE COVERAGE YOUR FAMILY NEEDS


Life insurance is complex. The State Farm® quick and easy life insurance calculator can help make it more understandable. Go to StateFarm.com/insurance, follow the prompts, and the calculator recommends how much coverage you need to protect your family. You also can explore a wealth of resources at StateFarm.com to help you understand your insurance needs. Your State Farm agent can also help you find the policy that’s right for you.


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