When Do I Need Life Insurance?

No matter your age, marital status, or number of dependents, Life insurance can benefit people at all different stages of life.

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Life Insurance For Your Stage In Life

Regardless of where you are in life, having Life insurance can help you rest assured knowing that you’ve helped to financially protect those you love. If you can’t be there for your loved ones, Life insurance can help replace lost income, pay a mortgage; help fund a child’s education, cover debts, and much more.

Learn how Life insurance can help protect your loved ones at any stage in your life:


Single people often think that they don’t need Life insurance, but chances are you may have people who depend on you, and who’d be impacted financially if you were no longer around (either by support you provide them or by your end-of-life expenses). That’s why it’s a good idea to still have Life insurance as a single person. Plus, buying insurance when you’re young and healthy is typically cheaper, and ensures you’re covered even if your situation changes.

Young adults, married

Life insurance is not only for those with families. Many young couples, even those without children, have people who depend on them, whether it’s taking care of a parent or as the sole provider for their household. Young adults generally have a good chance of qualifying for a lower rate, making life insurance affordable and easily obtained.

Married with children

Parents of young children know that life insurance is generally a necessity. When you’re young and in good health, it’s an especially great time to lock in a low rate. It is important to consider life insurance for both the primary earner and a stay-at-home parent because life insurance could help pay for the wide range of services that a stay-at-home parent provides.

Single parent

Single parents often bear dual burdens – they provide the sole source of income and the responsibility for the care and guidance of the children. Life insurance proceeds can help provide financial assistance in the event that a family's sole caretaker passes away.

Empty nesters and retirees

Even if your children are financially independent, Life insurance may still be an important part of your financial strategy. Many retired couples depend on Social Security and pension income to survive, but when a spouse dies, those payments may be reduced. Unfortunately, many of the ongoing expenses remain the same for the survivor, and they may still need to pay off a mortgage or other debts. You can help protect your spouse with life insurance, so a personal loss does not become a financial one as well.

Life insurance may also be part of your legacy-planning strategy or designed to help grandchildren accomplish important goals, such as completing a college education.

Business owners

Life insurance has a number of benefits for business owners. First, it’s a valuable employee benefit and can help a business owner attract and retain employees. Business-owned life insurance for key employees can help make it financially possible for the business to hire and train a replacement in the event of the employee’s death. Life insurance proceeds can also help the surviving partner or family members purchase a deceased owner’s share of the business.

It's always difficult to lose someone you love, and financial difficulties make it worse. Life insurance proceeds may help to provide financial relief for the people you care about most, if you're not there to care for them yourself. Contact your local Farmers agent today.

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