September is National Life Insurance Awareness Month, so it’s a great time to review your coverage.

If you don’t have any life insurance, you’re not alone. Life insurance is one of those “someday” things for many people — but the best time to buy it is probably today.

How do you find out if life insurance is right for you? It takes looking where you are in life and assessing your current insurance needs. The following potential factors may make acquiring a life insurance policy a good idea:

• You have a spouse or partner;

• You have children;

• You have an aging parent or disabled relative who depends on you for support;

• Your household depends heavily on your income;

• Your retirement savings or pension won’t be enough for your spouse or partner to live on should you pass away;

• You own a business, either solely or with partners;

• You have a substantial joint financial obligation, such as a personal loan for which another person could be legally responsible after your death.

Life insurance is intended to help your loved ones financially after you die. The proceeds from a life insurance policy may help your spouse, partner or family members manage finances and adjust to life without your income. If you are a business owner, it may be a vital part of a business continuation plan. The death benefit may also be used to meet funeral costs, which are averaging over $10,000.

There are two kinds of life insurance: term and permanent. Additionally, there are three kinds of permanent life insurance: whole, universal, and variable. If you want to acquire a life insurance policy or update your current coverage, please contact us and we will assist you in evaluating all the factors and help you choose an appropriate policy.

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