Term life insurance video
If you are raising a family and have a mortgage, term life insurance may be a good fit for your needs. It's typically the most affordable coverage.
Premiums are based on your age and health. The younger and healthier you are, the lower your premiums can be. A policy valued at $250,000 for a healthy 30-year-old costs an average of just $14 a month, or $160 a year.
Term insurance - covers a specific time frame—usually 20 years or less. When the initial term period is up or you stop paying the premium, the coverage ends. You may be able to continue the policy, but premiums could rise sharply. The death benefit typically passes to your beneficiaries free of federal income taxes. That benefit can be used for more than covering your current financial obligations and final expenses. It can be used it to replace the income you would have earned, to help ensure that your children's educational expenses are covered or to help maintain your family's standard of living. To get an idea of how much coverage you need, Use LIFE. Calculate your: liabilities (like your mortgage, car loans, credit card, etc.) income needs for your family to replace your future salary (and cover ongoing living expenses, savings needs and an emergency fund);
Education expenses for your child or children
It’s a good idea to talk with someone who understands your goals and how life insurance fits into your overall financial strategy.
An Edward Jones financial advisor would be happy to help. They can also do the 'shopping' with you to help find the best policy to fit your needs.
To find a financial advisor, or for more information on life Insurance and other financial questions, visit us at edwardjones.com