Life Insurance for Your Stage in Life
Regardless of where you are in life, having life insurance can help you rest assured knowing that you've helped to protect the financial future of those you love.
If you can't be there for your loved ones, life insurance can help replace lost income, pay a mortgage, help fund a child's education, cover debts, and much more.
Learn how life insurance can help protect your loved ones at any stage in your life:
Single
Single people often think that they don’t need life insurance, but chances are you may have people who depend on you, and who’d be impacted financially if you were no longer around (either by support you provide them or by your end-of-life expenses). That’s why it’s a good idea to still have life insurance as a single person. Plus, buying insurance when you’re young and healthy is typically less costly, and can help ensure you’re covered even if your health situation changes.
Young adults, married
Life insurance is not only for those with families. Many young couples, even those without children, have people who depend on them, whether it’s taking care of a parent or as the sole provider for their household. Young adults generally have a good chance of qualifying for a lower rate, making life insurance affordable and easily obtained.
Married with children
Parents of young children know that life insurance is generally a necessity. When you’re young and in good health, it’s an especially great time to lock in an affordable rate. It is important to consider life insurance for both the primary earner and a stay-at-home parent because life insurance could help pay for the wide range of services that a stay-at-home parent provides if something should happen to them.
Single parent
Single parents often bear dual burdens – they provide the sole source of income and the responsibility for the care and guidance of the children. Life insurance proceeds can help provide financial assistance in the event that a family's sole caretaker passes away.
Empty nesters and retirees
Even if your children are financially independent, life insurance may still be an important part of your financial strategy. Many retired couples depend on Social Security and pension income to survive, but when a spouse dies, those payments may be reduced for the surviving spouse. Unfortunately, many of the ongoing expenses remain the same for the survivor, and they may still need to pay off a mortgage or other debts. You can help protect your spouse with life insurance, so a personal loss does not become a financial one as well.
Life insurance may also be part of your legacy-planning strategy or designed to help grandchildren accomplish important goals, such as completing a college education.
Business owners
Life insurance has a number of benefits for business owners. First, it’s a valuable employee benefit and can help a business owner attract and retain employees. Business-owned life insurance for key employees can help make it financially possible for the business to hire and train a replacement in the event of the employee’s death. Life insurance proceeds can also help the surviving partner or family members purchase a deceased owner’s share of the business.
It's always difficult to lose someone you love, and financial difficulties make it worse. Life insurance proceeds may help to provide financial relief for the people you care about most, if you're not there to care for them yourself. Contact your local Farmers agent today.
When navigating life's twists and turns such as marriage, kids, job changes, mortgages, education and the loss of loved ones leaves you feeling like you're fighting fires, swimming with sharks or ziplining across great divides, Farmers Life® insurance can help protect you and your loved ones financially every step of the way. Work with us so you can spend less time worrying about an uncertain financial fate and more time doing the things you enjoy most in life.