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AAA is taking part in the Life Insurance Awareness Month campaign to increase understanding of the importance of life insurance. This nationwide initiative is conducted during September by the not-for-profit Life and Health Insurance Foundation for Education (LIFE).
According to AAA, one key message is that life insurance can provide a wide variety of important benefits across all age groups.
“Whether you’re single, married, have kids or are preparing for retirement, life insurance products provide peace of mind,” said Gary Dick, director of ACG Insurance Agency. “Everyone’s life insurance goals are different. The best place to start is with a needs assessment by a professional life insurance agent.”
WHO NEEDS LIFE INSURANCE?
Single People -- If you’re young, now is the best time to get life insurance. As you get older, your rates will increase. You can lock up low premiums before you get married.
Married Couples -- Protect yourself and your spouse from the unexpected. Take steps now to provide financial protection for your spouse. It’s a good time to get protection in place if you’re planning on having children.
Families with Kids -- Life insurance offers a family the resources to maintain their lifestyle should a parent pass away. It also can pay off debts and cover funeral costs, and provide money for longer-range needs, including college tuition or retirement. Stay-at-home parents also need insurance because they provide vital household services that would be expensive to replace.
Safeguarding your savings is a complex job. It is wise to develop a strategy that can both protect and expand funds you’ve earmarked for retirement. Consider some of these options: