Do you have student loans? If you have student loan debt, others may be responsible for your loans if you’re not here to repay them. If you have private loans, your co-signer—and in some instances your spouse—could be required to pay down the balance. Federal loans would  generally be discharged, but a parent who cosigns a federal parent PLUS loan could still be responsible for the payments. Life insurance proceeds could help your loved ones pay down your debt.

Are you a business owner? If you’re a business owner, there are several ways life insurance can help protect your family and your business. It can help surviving owners continue the business, help pay off outstanding debts in your absence, or help cover expenses should the surviving owners decide to close or sell the business. Personal life insurance is especially important for small business owners who may not have access to employer-sponsored group coverage or for whom such coverage is insufficient.

Do you care for your parents or other loved ones? Life insurance can help provide financial security for dependents other than a spouse or child. If you support your parents, grandparents, or other loved ones—physically or financially—life insurance proceeds can help provide for their needs in your absence.

Would you like the peace of mind that comes with a Living Benefit? A Living Benefit allows for an early payout of a portion of your life insurance benefits if you’re diagnosed with a terminal illness and have a limited life expectancy. Living benefits can be used to help cover medical expenses and could help make your remaining time as comfortable and dignified as possible. The remaining unused benefit continues as life insurance, payable to your designated beneficiaries.

Are you a future spouse or parent? If you’re young and single with little debt or responsibilities, life insurance may not seem important. But if you  plan on getting married or starting a family someday, purchasing coverage while you’re young will land you the most affordable rates, and can help preserve your future insurability when your health may not be as certain.

Do you want to leave a legacy? Life insurance can provide for more than your family. If you want to leave money to a charity or cause that’s important to you, life insurance is an easy means to do so—the proceeds are tax-free, and you can split your legacy among multiple people and organizations.

Life insurance offers many benefits, including a sense of financial security and responsibility. Apply today.

¹ Policygenius Sandwich Generation Survey, January 2023: https://www.policygenius.com/life-insurance/sandwich-generation-survey/.