The Seven Wonders of Life Insurance
Tim McElhinny, CIC, LUTCF
Partner, McElhinny Insurance Agency.
Pittsburgh Auto Insurance Specialist
Many people associate life insurance with helping to meet very basic needs like paying for a funeral and other final expenses. But if you plan properly, life insurance can meet these needs and so much more. September is Life Insurance Awareness Month, the perfect time to think about all the wondrous things that life insurance can do for you and your family.
Life insurance can…
1. Buy time
Allows loved ones to focus on their grief by helping to pay for the funeral and other final expenses.
2. Provide a fresh start
Lets loved ones start with a clean slate by helping to pay off credit card bills, outstanding loans and even the mortgage. ?
3. Generate income
Helps replace lost income for years to come so that surviving family members can continue to pay for life’s necessities.
4. Offer flexibility
Gives a surviving spouse the chance to take time off from work or to switch to a job that offers a more flexible work schedule.
5. Create opportunities
Can provide funding to start a business, or pay for schooling so surviving family members can train for a new career.?
6. Fund the future
Offers a way to fund longer-range goals, like a college education for the kids or a secure retirement for a surviving spouse.
7. Leave a legacy
Gives parents the chance to leave future generations with the legacy of long-term financial security.
Interested in learning more? Schedule a time to meet with us to discuss how Erie Family Life* insurance can help. We can help you ensure that you have the right amount and type of insurance to protect the ones you love.
-Reprinted article courtesy of the Life and Health Insurance Foundation for Education (LIFE). LIFE is a nonprofit organization dedicated to helping consumers make smart insurance decisions to safeguard their families’ financial futures. Learn more at www.lifehappens.org.
*Erie Family Life insurance not available in New York