| I often talk about the importance of having a solid risk management plan. There is one major component that should always be considered: life insurance. September is Life Insurance Awareness Month — the perfect time to check in and make sure your coverage still fits your life. Life insurance provides peace of mind. It helps make sure your loved ones have financial resources if something happens to you. For many people, the biggest need is when you’re starting a family, paying off a mortgage, or building your career. As kids grow up and assets increase, that need often goes down. The most common types are: Term life – affordable, straightforward, and great for income replacement Whole life – lifetime coverage with cash value Group life – offered through employers, but usually limited Best practice? Review your coverage regularly and keep your beneficiaries up to date. |
