Top Reasons Why You Need Life Insurance

While the concept of life insurance implies a certain sense of morbidity, the truth is that, eventually, we all die. At American Income Life we believe that life insurance protects the dependents of the policyholder, provides income while the family adjusts to the loss of the breadwinner, funds specific financial goals, and pays for debt and taxes. With nearly two-thirds of Americans living in middle-income households, going without life insurance can prove to be a fatal mistake.

Accidents and illnesses happen. Life insurance is a selfless way to help make sure your loved ones can survive financially without you. Everyone agrees that it’s important to insure your car in case of an accident, but what if that accident turns deadly? Life insurance is necessary for the ‘what ifs’ in life.

A life insurance policy from American Income Life can help allow the family time to grieve without worrying about returning to work immediately. Consider it one last act of love and kindness to help fund costly funeral and burial arrangements.

Another advantage of life insurance is that it can help fund specific financial goals. Since life insurance can help pay off a mortgage or send children to college, it’s important to be insured when purchasing a home or starting a family. When the breadwinner is no longer alive to save for these endeavors, a portion of the policy’s death benefits can be set aside for necessary funding.

Purchasing life insurance before it is needed will help protect loved ones from significant debt and taxes following the policyholder’s death. A prolonged illness can rack up medical bills, while property taxes can cause additional headaches for the family.

In life, no one is immortal. When people are dependent on you, it’s important to buy a life insurance policy before it’s too late. Accept the inevitable and continue providing for your family posthumously. Visit American Income Life to learn more about the available life insurance products.

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Remember when you were in school and the teacher graded your exams using a ‘Bell Curve’? Guess what? The Bell Curve is not only for exams. It literally applies to life!

This illustration shows the milestones in life. It also shows that insurance needs change depending on where you are on the curve. The need for insurance should increase or decrease – like the shape of the Bell Curve – as your earning potential and responsibilities increase or decrease.

There are two main types of life insurance – whole life and term life. Whole life provides coverage for your entire life and builds cash and loan value as you pay premiums. Premiums never increase. But whole life is generally more expensive because coverage lasts a lifetime. It provides the best overall protection for your family and covers final expenses.

Term life provides coverage only for a limited time. After that, the policyholder generally pays increased premiums to maintain the coverage. Term life, however, is usually less expensive than whole life. It’s appropriate for those with limited financial resources or who want the coverage only for a short time.

As you near retirement, the need for term insurance dwindles. By that time, you would have likely accumulated enough money to live on. From retirement to the end of life, you generally don’t need term coverage if you have an appropriate whole life product in place that can help pay final expenses.

Why not learn more about life insurance from a respected company with strong financial strength ratings? American Income Life has earned the A+ (Superior) Financial Strength Rating from A.M. Best Company (as of 6/11). To learn more about life insurance, visit American Income Life.

Supplemental Insurance at American Income Life

The professionals at American Income Life Insurance Company work with labor union, professional association, and credit union clients to determine optimum supplemental insurance plans based on individuals’ and families’ circumstances, budgets, and goals. Offerings include whole life, term life, and supplemental insurance policies including accident, hospital indemnity, cancer, critical illness, and a terminal illness rider. In addition, American Income Life offers the optional, noninsurance No-Cost American Income Partners Basic Program. *

The Freedom of Choice whole life plan, created to help relieve families of immediate financial concerns upon the death of a loved one, allows families to select the funeral home, location and type of service when it is needed. The Company also offers a whole life policy with premiums payable until age 65. Term life policies can be used to supplement permanent policies or meet specific needs, such as paying off a mortgage or protecting family income. Beneficiaries can request a lump sum payment upon the insured’s death or can request the benefits be spread out over several years.

An accident policy covers accidental death and dismemberment, hospital confinement, and intensive care treatment if related to an accident. In addition, the policy pays a benefit if the policyholder has emergency room treatment as a result of an accident when treated within 72 hours of incurring an accidental injury. The American Income Life hospital indemnity plan provides a fixed benefit when a policyholder undergoes hospitalization due to accident or illness. Cancer protection policies can provide specific coverage for treatment of cover or a single sum benefit when an insured is diagnosed with cancer. The critical illness plan pays a one-time lump sum payment upon the initial diagnosis of a covered critical illness.

The optional, noninsurance No-Cost American Income Partners Basic Program* enables members to call an 800 number or go online to locate nearby participating providers who offer up to 60 percent discounted health services and products, including eye care and prescription drug, hearing, and chiropractic plans. For an annual fee, members can upgrade to the Gold Program*, which includes discounts on hotels, car rentals, dental care, nutritional supplements, travel assistance, and a 24-hour nurse helpline. Visit www.ailife.com for more information on the Company’s products.

*Not available in all areas.

Plan Availability Varies By State / Province