Page 42 - AAA Magazine – AAA Ohio Auto Club – September 2019

Putting a Protection Plan in Place with Life Insurance
People like to plan for living and most have financial goals that they prioritize throughout their lifetime. These priorities often include reducing debt – such as bills, the mortgage and student loans – paying for medical expenses, leaving an inheritance and maintaining their family’s standard of living if they die.1
Nearly one in five consumers say that these types of financial priorities are more important than getting life insurance.2
But did you know life insurance can
help solve many of these economic concerns?
You shouldn’t have to decide between life insurance and saving for graduation, tuition, weddings or retirement. With the right product, you can save for life events and help protect your family at the
same time.
Consider these stages of life and how
life insurance can fit into each one:
YOUNG SAVER
For someone who’s single without children, it might seem more important to pay off student loans and other debt than to take on a new financial obligation, especially if you’re trying to save up for something significant, like a down payment for a home or getting married. But if you’re planning on getting married,
With the right product, you can save for life events and help protect your family at the same time.
having kids or buying a home at some point in the future, now is a great time to think about life insurance as a way to help protect these plans.
The cost of life insurance is typically based on three things: your age, health and habits. That means it gets more expensive as time goes by. It’s more likely you will qualify for better rates now, while you are younger – making it a smart idea to lock in lower life insurance premiums today.
MIDLIFE PLANNER
If you have an established career, a home and a family, it might be time to start thinking about your children’s graduation parties, college expenses and even their wedding day. Life insurance could help to make sure there are funds available to your family for these important events if something were to happen to you. It also can help maintain their standard of living in the event they lose your income.
40 | AAA MAGAZINE
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