The terms “financial security” and “financial protection” can have different meanings for different people. Think about your own family’s situation. If the income of your household’s breadwinner unexpectedly were to cease, what would be the impact? Would there be enough money to cover your family’s basic expenses? What about additional expenses?
Insurance for Families
Things to consider when choosing life insurance
With the many options available for family life insurance you may need someone to help you understand the different choices and terminology. Gerber Life takes the guesswork out of family life insurance with articles that answer such questions as, "How does life insurance work?" and "How do I get life insurance?" Whether you're looking for a policy for an infant, child, adult or senior, we've got you covered when it comes to answering your questions about life insurance.
When creating a household budget, we all need to account for many kinds of expenses. According to the Economic Policy Institute (EPI), they include:
- Child care
- Health care
- Other necessities
Another important item that should be on the list is life insurance. How to find the money to do so when creating a family budget?
If you are in your 20s or 30s, you may not spend much time thinking about life insurance, but – surprise – maybe you should. Read on to find out why now is the right time to investigate life insurance.
As a rule of thumb, if you have loved ones who depend on you financially, or who could be affected financially in one way or another if you were no longer here, you should consider getting a life insurance policy, even a small one.
Term life insurance is a popular insurance option because of its affordability and flexible coverage periods or “terms.” Policies such as the Gerber Life Simplified Term Life Plan1 offer coverage periods of 10, 15, 20, and 30 years. In most cases, the shorter the duration of the term, the less costly the premium rate. The monthly premium, however, should not be the only consideration when selecting policy duration.
How do you choose which term life policy duration best fits your needs? In the most basic sense, it depends on how long you want to have the coverage, but there can be many factors that influence a decision.
As parents, we want the most for our children. We work hard to put food on the table, keep a roof over our children’s heads and to give them everything they need in life. Our children are our whole world, so it can be difficult to think that there could be a day when we are unable to provide for them. Sometimes, however, the unthinkable does occur, and if it does, life insurance coverage can help to keep loved ones financially cared for.
For many, life insurance can be a sensitive subject. To put it very simply, a life insurance policy can protect anyone who depends on your paycheck. There are, however, a wide range of policy types, each designed to meet a certain need and/or circumstance.
No two families are identical, and as such, life insurance needs will often vary family to family. At Gerber Life, we provide life insurance for your whole family. Our range of policy types includes options that can fit your budget and that will protect all of your loved ones.