If you have a family, a home or a business, chances are good you need the financial protection of life insurance.

When do you need it?

• Your family relies on your paycheck.
l
• You’re a stay-at-home parent who provides child care and other valuable family support.
• You’re an empty nester who wants to provide for a surviving spouse.
• You want to leave a legacy to loved ones.
• You’re a business owner who needs a transition plan.

Three Steps to Help Get You Started
Step 1: What kind of coverage do I need?
Basically, there are two types of insurance, “term” and “permanent”.

Think term life insurance if you only want temporary financial protection. For example, until the mortgage is paid or the kids are out of college.

Think permanent life insurance if I want to leave behind a legacy. For example, if you want to leave supplemental retirement income for a spouse, or tax-free money to your children or a charity.

Step 2: How much coverage do I need?
Basically, you’ll want a death benefit that covers the following:

• Final expenses (e.g., medical and funeral costs)
• Mortgage payoff
• College expenses for your kids
• Income replacement

Step 3: Are my needs more complex?
Your life insurance needs may be more complicated, of course. Perhaps you want to use life insurance to transfer wealth or to transition a family business. Talk to your advisor or agent about the best solution for you.