Life is full of the unexpected – that’s why people rely on life insurance to help them through tough times. A life insurance certificate is there to replace income should the death of a breadwinner occur, but it can also:
Life insurance is good for just about anyone, including:
If you’re unsure whether you need it, ask yourself this question: “If I died tomorrow, how would my family fare financially?”
There are several types of life insurance, but most fall under the following two categories:
Permanent Insurance – a permanent insurance certificate costs more than term insurance, but provides lifelong coverage. And the certificate will never expire as long as the necessary premiums are paid.
Permanent insurance certificates can build cash value that may be borrowed for such purposes as buying a car, making a down payment on a home, or paying for college1.
Permanent insurance includes the following products:
Term Insurance – a term insurance certificate is more affordable than permanent certificates, and only provides coverage for a “term” of time (typically 10, 15, 20, or 30 years). Term insurance does not build cash value, but is a good choice for growing families who are looking to cover needs that will disappear in time.
When figuring out how much life insurance you and your family will need, ask yourself the following questions:
Over time, you may find that your current certificate is no longer sufficient. Your insurance needs change when you experience a life change, such as:
Knowing what kind of life insurance you need can be confusing – let WoodmenLife help. Your local Representative can help you find the type of life insurance that’s right for you and your family.
1.Loans must be repaid to avoid accrued interest and a reduced death benefit.
We’ve been helping to protect the financial future of families like yours, making a difference in hometowns across America and honoring our country since 1890. As a not-for-profit life insurance company, we put money back into the community. We’re here when you need us most.Learn More About WoodmenLife