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You’ve probably given a great deal of thought to your family’sfuture. Where will your children go to college? Where will they endup living? There are so many unknowns when it comes to the futureand raising a family. Preparation is your best defense against thestress and worries that accompany thoughts of the unknown.

How do you prepare? Life insurance is the best way to see thatyour family’s future will remain stable should something happen toyou. Life insuranceis all about protecting the future – not your own, but that of yourfamily.

Protect your finances

Life insurance can be used in several different ways. The mostvital role of life insurance, however, is to financially protectyour family should the unthinkable occur.

Depending on how much you purchase, life insurance can be usedto cover day-to-day expenses, mortgage payments, health insurance,car insurance, taxes, any debt that you hold, costs associated withrunning the household in your absence, college expenses, yourfuneral and burial expenses, and other financial obligations thatyou hold. When you’re not sure how to go about purchasing lifeinsurance, use easy onlinecalculators such as the one at, which can helpdetermine the appropriate amount.

Keep your home

Purchasing a home is a substantial investment. If somethinghappens to you, could your family continue to make the mortgagepayments and maintain the lifestyle you’ve always envisioned forthem? If you choose a life-insurance policy that lasts through theduration of your mortgage, the pay-out could go toward mortgagepayments, saving your family from the risk of foreclosure. Yourchildren would be able to remain in the house they consider home,lessening their emotional distress.

It’s a good idea to lock in rates while your children are young.Rates only get higher as you age, and the same is true for yourchildren. That is why buying a whole life-insurance policy whileyour children are young is so important. It locks in a low premiumrate from their childhood onward.

Now that you’ve decided to protect your family by purchasinglife insurance, you may not be sure what works best for you – andthem. Here are two types of insurance to consider:

1. Guaranteed Level Premium Term Life Insurance: Level PremiumTerm life policies provide a guarantee the premium will be levelfor a specified length of time, usually 10, 15, 20, 25 or 30 years.Premiums are guaranteed to never increase over the period that youselect.

2. Whole life insurance: Unlike term insurance, whole lifecontinues indefinitely as long as the premiums are paid. Inaddition to providing a death benefit, the policy builds up a cashvalue that is generally tax deferred. Whole life policies aretypically more expensive than term policies.

It’s important to keep in mind that you don’t buy life insurancefor your own benefit but that of your family. Life insurance willgive you and your family peace of mind. Invest in a policy thatprotects your future so you can focus on the present.