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 a mortgage, bills and student loans—paying for medical expenses, leaving an inheritance, and maintaining their family’s standard of living if they die.1

You shouldn’t have to decide between purchasing life insurance and saving for graduation, tuition, weddings or retirement. With the right product, you can save for all of these life events and help protect your family.

Consider how life insurance can fit into each of these stages of life:

Young saver

Here are seven major life events and how they may impact your life insurance needs.

Read More

For someone who’s single without children, it may seem more important to pay off student loans and other debt than to take on a new financial obligation, especially if you’re saving up for large expenses like a wedding or a down payment on a house. But if you’re planning on getting married, having kids or buying a home at some point in the future, this is actually 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: age, health and habits. In other words, it gets more expensive as time goes by. You’re more likely to qualify for better rates now, when you’re young—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, you might be thinking ahead to your children’s graduation parties, college expenses and even their wedding days. Life insurance would not only help your family maintain their standard of living if something were to happen to you and they lost your income, it would also help ensure funds are available to them for these important events in the future.

Retiree

If you’re a mature adult, it might be time to give serious thought to an inheritance strategy for when you are no longer around. Do you want funds to go directly to your children, your grandchildren, or perhaps a favorite charity? Life insurance can provide you with peace of mind so you’ll know these proceeds will go exactly where you’d like them to go.

Put a Protection Plan in Place

Our insurance specialists can help you explore your life insurance options at every stage of life.

1LIMRA 2018 Barometer Study

AAA Life and its agents do not provide legal, financial, or tax advice. Please consult your professional advisor prior to the purchase of any policy or contract. Life insurance underwritten and annuities offered by our affiliate, AAA Life Insurance Company, Livonia, MI. AAA Life is licensed in all states except NY. ALAN-25641-519-XX

Keep reading in: