Couple in Kitchen with Advisor

Who Needs Insurance?

Type of Individuals

Scenario

Type of Insurance

Newlyweds Insurance can provide protection for couples just starting out who may not be able to afford daily living expenses, pay off debt, etc., on only one income. Term insurance requires the lowest premium and can be easier for a young couple to afford.
Family Breadwinner Life insurance can replace your income and allow your family to maintain the same standard of living if you pass away unexpectedly. Term insurance can provide coverage through your working years and/or until your debts are eliminated.
Parent of a Special Needs Child Insurance can provide financial support to the child when the parents pass. Permanent insurance can provide coverage for life rather than just a set number of years.
Stay-at-Home Parent An insurance policy can cover the cost of childcare and other services the parent was providing in case of an unexpected passing.  Term insurance can cover this until the children are older and no longer need these services.
High-Net-Worth Individual A life insurance policy can help heirs pay estate and/or inheritance taxes. Permanent insurance coverage is best for addressing estate tax concerns. 
New Homeowners Life insurance allows your family to continue paying or pay off the mortgage and stay in the home in the event a wage earner passes away.  Term insurance can cover the time period you will be paying your mortgage.
Business Owners Life insurance can cover business debts, fund buy-sell agreements, and help heirs pay estate taxes. Depending on the goal of the insurance, term or permanent insurance can be used.
Individuals with Student Loan Debt If you have a co-signer on your loans, an insurance policy provides funds for the co-signer to pay off the debt. Term coverage can be purchased to cover the years of loan payments.
Divorced Parent Insurance can be used to cover child support payments in the event of death. Term insurance can be used to cover the years of support payments.

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