Which Family Members Need Life Insurance?

Who Should Get Covered?

At some level, you probably know that you need life insurance. Whether you learned about this kind of coverage through a workplace program, your agent informed you of the protection it offers, or you did your own research, you are informed that life insurance can protect your family’s financial future and have hopefully secured a policy of your own.

Have you thought about who else needs this type of coverage, though? In the same way you purchased your policy to protect your family against funeral expenses, financial difficulty without your paycheck, and losing steam towards their financial goals, you deserve to be protected. Here is a quick look at if you should get a life insurance policy for your spouse or child.

• Spouse: If your spouse earns an income, you will definitely want to take out a life insurance policy on him or her. Even if your partner stays at home, though, you should calculate the amount a nanny, maid, driver, chef, etc. would cost you. You may find you would still need supplemental income from a policy to maintain your quality of life without your spouse’s masterful household management.
• Children: It might seem premature to get a life insurance policy for your kids, but you may actually be doing them a service in doing so. Life insurance policies have guaranteed cash value, which means they can be borrowed against if your son or daughter finds him or herself in financial need.

The good news is that you do not have to figure out who needs life insurance—or how much to get—on your own. To get a team of insurance experts on your side, contact Bisson Insurance Services. Serving Yorba Linda and the surrounding California cities, we are here to help you best protect your family today and in the future.