Do Empty Nesters Still Need Alabama Life Insurance

Once your children are grown and supporting themselves, do you and your spouse still need life insurance? Your Alabama life insurance agent may explain to you a number of reasons why empty nesters still need life insurance.

You may want to leave life insurance benefits to your children as an inheritance if it is not too much of a financial strain to keep the premiums paid. In case you have other dependents such as elderly parents or disabled siblings who depend on you for support, it may be necessary to leave life insurance benefits to help with their care.

Should one spouse die before either spouse is eligible for Social Security, the surviving spouse may face financial difficulties without life insurance benefits. Also, should one spouse die while both spouses are still working, life insurance may help the surviving spouse meet the financial obligations incurred based on two incomes.  

An emergency savings account consisting of six month’s income is a good idea, but not everyone maintains such a safety net. Life insurance may help the surviving spouse take care of financial obligations should there be no emergency fund in place. When people hold certain charities near and dear to their hearts, they may want to take out life insurance policies with their favorite charities as beneficiaries.

Life insurance is not just for surviving children. There are many reasons to continue life insurance after your children are grown. Your Alabama life insurance agent may help you decide the level of insurance coverage to continue once you become an empty nester.

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