Help your family maintain its standard of living after you're gone. Provide needed liquidity to pay estate taxes so that your wealth transfers efficiently from one generation to the next. Ensure that the business that you've worked hard to establish will continue on. Life insurance can help you accomplish all of these goals.



Life insurance is an important component of a solid financial plan, and helps to protect your loved ones in the event of your death. The money from the policy, referred to as its death benefit, passes on to your designated beneficiary or trust to provide a critical resource for your family's financial needs. Life insurance policy proceeds could mean that your family will be able to avoid selling assets in order to pay remaining bills or estate taxes. And with certain types of policies that are designed to accumulate cash values, you may be able to withdraw funds or borrow against the policy, potentially allowing you to take advantage of financial opportunities or to meet unexpected expenses throughout your lifetime.

Getting Started

It's important to first gather your personal financial information and carefully assess your family's expected financial needs. This can be done first on your own with the use of a life insurance needs calculator and then with the assistance of a highly-skilled insurance professional or financial advisor. Once you have determined the amount of life insurance you think you might need, you'll then need to determine what type of insurance works best for you.


If your needs are for a quantifiable period of time, such as until a mortgage is paid off or a child graduates from college, term life insurance may work best for you. If you desire coverage that lasts for your whole life, permanent insurance, such as whole life, or universal life may best suit your needs. You'll also need to determine if you'll prefer a single-life policy, where your life is the only one that is insured, or what's called a survivorship policy, where you and your spouse apply jointly and the life insurance benefits are transferred at the second death.

Next, you'll need to take steps to apply for coverage. For term insurance products, or permanent insurance products, such as whole life, or universal life you can rely on the expertise of an Allied Roth licensed insurance professional, who can help you evaluate your needs and start the application process.