Which Family Members Need Insurance?
If you and/or your spouse are active-duty service members, it’s probably pretty obvious by now why you need a life insurance policy.
If you have a family, there’s also a pretty obvious need for life insurance to help take care of your loved ones when you’re gone.
If you’re a stay-at-home parent, just because you’re not the breadwinner in your family doesn’t mean that you don’t need a policy. It all depends. Factors such as number of children you have (or anticipate having), your family’s health, your spouse’s salary and job security are all factors when deciding if a stay-at-home parent should take out a policy. See whether your situation warrants a whole life policy.
Do kids need life insurance?
While little ones usually don’t have assets, and don’t have anyone depending on them financially, life insurance policies are more of an investment a parent or grandparent takes out for them that will be much more valuable when they’re older. If you take out a policy for a child, premiums are much lower and coverage can double when they become adults. Check out rates and perks of life insurance policies on kids aged 15 days – 14 years.
For more information on low-cost life insurance options for Military Families, call an AAFMAA Member Coordinator today at 1-877-398-2263 or check out aafmaa.com.