Life insurance helps take care of who you leave behind—before you go. 

Some think that life insurance is only for those who are considered senior citizens, but that is definitely not the case. Life insurance is necessary for every phase of life—from when it's just you in your first "real" job to your winter years.  

Early 20s

For those just starting out, locking in coverage when you're young and healthy is the best time to obtain a policy. You also have the benefit of keeping your coverage if you decide to change jobs or lose coverage from an employer. If you're still paying off any student loan debt, life insurance protects your loan co-signer from having to pay off the remaining amount of your debt if something were to happen to you.

Mid-20s to Mid-40s

When it comes time to start a family of your own, even as a single parent, life insurance provides an income to cover the bills and other expenses if something were to happen to you. This way, your surviving family members can remain in the home and your kid's college tuition is paid for. As an added bonus, the money that is left behind is tax-free.

Mid-40s to Early-60s

For those getting close to retirement age, a life insurance policy helps maintain your family's current lifestyle as an income replacement and it mitigates the cost of extended medical care. For any outstanding debt, a life insurance policy can prevent co-signers or any children/grandchildren from taking on your debt if you were to become incapacitated or pass away. In the event of your passing, a life insurance policy can provide an inheritance for your surviving family members or whomever you designate as your beneficiaries. 

Ages 65+

For all you retirees out there, life insurance is particularly important in this phase of life. Funeral costs and any estate administrative costs can be taken care of with the help of a life insurance policy. Should you be faced with any surprise emergencies, a life insurance policy that carries a cash value can supply quick funds. Another added benefit is if you are ever diagnosed with a terminal illness, life insurance policies can pay for the medical bills incurred from treatment. Most importantly, the policy will help take care of the loved ones you leave behind.  

The circumstances regarding the discussion of life insurance policies are often depressing to think about, but they are worth it. Paying for peace of mind is an investment that will pay back in more ways than one. While your loved ones will miss you, they will be forever grateful for receiving the gift of financial relief.