Life Insurance 101

Who needs life insurance, and what are the options?

The ability to earn an income can be considered your family's most valuable asset because your income allows you to obtain other assets, particularly the necessities of life and, of course, the creature comforts. However, as we know, the ability to earn an income is not guaranteed. Yet, the need for income may continue for those who were financially dependent upon you. Consequently, your need for life insurance and the amount will depend upon your personal and financial circumstances. If any of the following statements apply to you, you probably do need to consider life insurance:

  • You have a spouse.
  • You have dependent children.
  • You have an aging parent or disabled relative who depends on you for support.
  • You have another loved one that you wish to provide for.
  • You have business or estate planning needs that life insurance can satisfy.
  • Your retirement pension and savings are not enough to insure your lived ones' futures against a rising cost of living.

Still not sure if you need life insurance? Watch our videos on why life insurance can change your life.

When you choose Farmers New World Life Insurance Company for your life insurance, you can benefit from over 85 years of experience. There are three basic types of life insurance:

  • Term Life Insurance is temporary coverage to fit business or personal needs.
  • Whole Life Insurance is permanent insurance that provides coverage for the "whole life" of the insured.
  • Universal Life Insurance is flexible coverage and cash value accumulation.

Click here for detailed information about the different types of life insurance coverage available, or get a life insurance quote now.

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