LIG Blog – National Life Insurance Day

A girl on the beach with an umbrella representing National Life Insurance Day.

What is Life Insurance?

Preparation is key.

We hear this often told when it comes to packing for a trip or successfully completing a professional goal. Preparation allows us to be proactive and efficient when a situation arises because solutions have already been considered and are ready to be implemented.

Preparation is necessary in many aspects of our life – as well as our death. While we may not want to consider the aftereffects of our passing, it can benefit your family, friends, and loved ones to prepare for and plan the logistics. One of the logistics to be considered is life insurance.

Life Insurance Explained

Simply put, life insurance offers your family and loved ones a monetary payout in the event of your death. You’ll pay a monthly premium to your insurance carrier in exchange for a tax-free sum of money to be paid to the recipients of your choosing if you die while the policy is active.

The recipients of the benefit are called beneficiaries and are often spouses, family members, or close friends. Beneficiaries can view this payout as an income replacement, covering housing, bills, debts, end-of-life costs, and any other expenses that may come up. In the event of your death, the beneficiaries will file a claim with the insurance company and receive funds in about two months after the paperwork is completed.

In order to ensure your loved ones are financially comfortable in the event of your death, it’s recommended to hold a life insurance policy that covers 10-15 times your income. Premiums and payouts are dependent on factors like age, health, and financial needs, and there are a variety of types of life insurance policies that may be considered when evaluating your options. Since no insurance is one-size-fits-all, it’s helpful to work with a licensed agent to find the best plan for your specific situation.

Life insurance isn’t necessarily for you – it’s for your loved ones. You’re able to protect those that you love the most, even when you aren’t here to do so. All you need to do is pick up the phone to start the conversation, and your licensed professional partner will walk you through the steps to getting coverage.

Start the Conversation About Life Insurance with an Expert Agent at LIG Solutions

National Life Insurance Day can serve as a reminder to sign up for life insurance or explore your plan benefits. The trusted, licensed health professionals at LIG Solutions are here and ready to partner with you to find the best plan for your needs and budget. Our team of licensed agents have access to a variety of carrier options with no vested interest in the solution you choose, meaning you are getting a plan that truly benefits you.

Call 866-229-9888 to be connected with a licensed agent!

Disclaimer: LIG Solutions complies with applicable federal civil rights laws and does not discriminate on the basis of race, color, national origin, age, disability or sex.