September is Life Insurance Awareness Month.
Having adequate life insurance is about protecting your loved ones should something happen to you.
So, who needs life insurance?
You’re a good candidate if you have a spouse or partner who depends on your income, or children or loved ones whom you support.
It could also be a solution if you have outstanding debts like a mortgage, credit cards or auto loan, or if you simply don’t want to burden loved ones with your final expenses.
You can choose between two types: term and permanent.
Term is affordable for most people.
Permanent, such as whole or universal life, is usually more expensive because it provides a death benefit and premiums that build cash value.
Many people have group term life insurance through their employers.
But it may not be enough. And it’s only good as long as you’re employed there.
Carefully consider all your options to ensure you have adequate coverage for your family.
This article was written by Edward Jones for use by your local Edward Jones Financial Advisor John Dickerson, and Hawes Dickerson. Members SIPC.
