Life insurance is one of those things that is important to have, though you hope you'll never have to use it. This type of insurance is a great way to protect your loved ones in the event of your death. Most importantly, it provides the funding they'll need to cover any funeral expenses and adjust to their new lives without you.

Read on for everything you need to know about this critical coverage and why it is so important. 

Who Needs Life Insurance? 

When you decide that the time is right for you to have children, this is the perfect time to evaluate your life insurance needs. If something should happen to you, your partner would become a single parent, a challenging lifestyle, to say the least.

This transition can be especially difficult if you were a two-income family. Your partner will now have to make up for your wages while still providing for themselves and your children. Your life insurance payout can help them pay off debts and establish a bit of savings while they get back on their feet. 

Even if you don't have children, it is still a good idea to have a life insurance policy in place to protect your spouse or partner. This is especially important if they do not work or have significantly lower income than you do.

Of course, you hope not to need your life insurance policy. But it can give you peace of mind that your loved ones will be adequately taken care of after you are gone. 

How Much Life Insurance Do You Need? 

There is no specific answer to this question, as it will depend on your current income, budget, debts, children and other factors. The goal of life insurance is to provide enough funding to continue to provide your loved ones with the lifestyle you are currently able to give them. But you also don't want to overstretch your budget today. 

At Lang Insurance, we are well-versed in life insurance policies and can help you evaluate your coverage needs. We'll work with you to determine an appropriate value for your policy while keeping your monthly premiums as affordable as possible.

We invite you to reach out to us today for more information about life insurance policies and the benefits they can have for your family. Call 636-229-7000 now to get started with a free consultation and price quote.

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