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Babies and Families

How life insurance for you is all about your love for them

There are some common myths about life insurance that may be prohibiting you from purchasing a policy. Read this article to dispel those myths.

When you became a parent, everything changed. You read all the books about what to expect, but nothing prepared you for the way it felt to hold your child in your arms for the first time. Your priorities shifted, and for all the right reasons.

Someday in the future you'll give them a shoulder to cry on after their first heartbreak and the loudest applause in the auditorium when they get their degree. But for today, you can secure their future by securing a life insurance policy for you. 

If misconceptions are holding you back from getting life insurance, here are some common myths and truths that may help you better understand why you should consider your coverage options.

Common myths and truths

Myth: It's unaffordable.
Truth: There's a life insurance policy for any family budget.

A life insurance premium is based on many factors, including the policy type, your health  and face amount. A qualified insurance professional can help you select a life insurance policy that best fits your budget and meets your family's individual needs. Think you have a budget that won't budge? Then it's time to get serious about prioritizing your spending. After all, they're worth it.  

Myth: I don't have the time to set up an appointment to apply for a policy.
Truth: Time is not always on your side.

Your life insurance premium depends in part on your age and pre-existing health conditions. In general, your age and health will affect the price of your policy. Don't risk an unexpected change in your health status that could make life insurance unaffordable, or worse, prevent you from qualifying for coverage altogether. Most importantly, don't take chances with the financial security of your children should they lose one or even both parents. 

Myth: It's not necessary for both parents to have a policy.
Truth: It's advisable to have a life policy for both of you.

Even the loss of a stay-at-home spouse could financially burden a family. Consider the cost of securing quality child care and assistance with other household responsibilities. Remember, it's the surviving spouse who will have to pick up the pieces. Life insurance coverage can help ease the additional financial burden, offset employment stress, or reduce the pressure to downsize and uproot the family.

Good advice for parents is to expect the unexpected. Life insurance is one of the best ways to protect your children in light of an unpredictable future.



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All Learning Center articles are general summaries that can be used when considering your financial future at various life stages. The information presented is for educational purposes and is meant to supplement other information specific to your situation. It is not intended as investment advice and does not necessarily represent the opinion of Protective Life or its subsidiaries.

Learning Center articles may describe services and financial products not offered by Protective Life or its subsidiaries. Descriptions of financial products contained in Learning Center articles are not intended to represent those offered by Protective Life or its subsidiaries.

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