Catholic Financial Life Blog

The Importance of Life Insurance at Every Stage

Posted by Catholic Financial Life

Sep 27, 2015 10:25:00 AM

 A multi-generational family enjoys the benefits of life insurance.

Through all of life's milestones, with every major financial decision, a life insurance policy from Catholic Financial Life is important. If you’re 18 or 81, read to find out why you need life insurance today. 

Children

When you buy a life insurance policy for your newborn infant, you lock in the lowest-possible payment rate, ensuring the best for your child’s future. As your children grow and attend school, you must own a life insurance policy for them for them to be eligible for our scholarships and other educational benefits.

Young adults

It’s no secret that college graduates these days have more debt than ever before. Catholic Financial Life can help you make a financial plan to make the process off paying off these loans as easy as possible. At a young age, life insurance is very affordable and lays the foundation for a life of smart financial decisions.

New families

Newlyweds should purchase a life insurance policy to make sure that in the case of the death of a spouse, the surviving spouse does not have to deal with the burden of paying off bills. When baby makes three, Catholic Financial Life’s policies help new parents protect their income and begin funding their child’s college education. In other important milestones in the life of a new family, such as buying a home, Catholic Financial Life assists in paying off a mortgage and any other debts.

Middle-aged adults

The life insurance you bought as a young adult or newlywed may need sprucing up. Make sure you still have enough and the right kind of coverage. For business owners, a life insurance policy provides the funds necessary to keep your business running even after you die. If you find yourself unemployed at any point in your life, your old employer may have been your life insurance supplier. In that case, you need to purchase a new plan.

Senior Citizens

Make sure you have a life insurance policy to assist with the loss of pension and Social Security. Your coverage will also help your loved ones with your burial and funeral expenses. Charitable people, investing in life insurance now will allow you to leave a generous donation to a church, school, or organization when you pass away. In a similar way, the wealthy can benefit from financial membership with Catholic Financial Life because we can help you pass on your estate efficiently, avoiding large tax payments.

Contact an advisor about our your retirement options

Related Posts:

Protecting Your Young Family With Life Insurance

Congrats! You're a College Graduate! But Life Insurance - Really?

3 Ways to Protect the Ones You Love With Life Insurance

The Financial Reality of Retirement

FAQ: When should I contact my Catholic Financial Life advisor?

 

Topics: Catholic Financial Life, Parenting, Financial Literacy, Family, Life Insurance, Graduate, Financial Security, College