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September often brings with it colder temperatures, beautiful foliage, and Husker Football. What many people don’t realize, though, is that September is Life Insurance Awareness Month, making it the perfect time to review your current policy or invest in a new policy to protect your family. Let’s face it, no one wants to think about dying or losing a loved one, but it is inevitable and having little to no life insurance can leave a serious financial burden on the surviving family members.  The following is a guide of basic information if you are considering a life insurance consultation. 

Why Do You Need Life Insurance?

The primary reason for investing inlife insurance a life insurance policy is to provide your loved ones with financial support should the unimaginable happen to you. Upon choosing your plan, you’ll determine the value of your coverage and designate a beneficiary. Then, if you pass away, the payout given to your designated recipient will help cover costs associated with funeral expenses, outstanding debts, estate taxes, business continuation plans, future college costs for your children, and loss of income. 

What Type of Life Insurance Should You Get?

Before you can figure out what your coverage should be worth, you should determine what kind of policy you want and need. The two most common are term and permanent life insurance.

Term life is a policy that only provides coverage until a predetermined age, which you typically set at the time you purchase the policy. Permanent life insurance doesn’t have any time or age restrictions and can build cash value, and it allows policy owners to borrow against that cash value if they need financial assistance. There are many factors that need to be considered when determining the right policy for you and your family, which is why it is important to consult with a licensed insurance agent.

 

If you would like a free, no obligation consultation during Life Insurance Awareness Month this September, get in touch with Omega Insurance Group in Lincoln, NE. With over 50 years of experience helping clients set up comprehensive, personalized policies, we have the skills and expertise needed to ensure your family is well-cared for after you pass. Visit our website for more information on our services, and call (402) 465-1167 to schedule an appointment today.

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