An important part of a sound financial plan, life insurance provides a valuable death benefit to your beneficiaries upon your death. Your beneficiaries can then use the money to replace some of the income you would have earned or to help pay off debts or other expenses.
Whether you are just starting out or have an established career, you have access to a variety of individual life insurance policies. The one that's right for you depends on many factors, including your budget, the amount of coverage you need, and the length of time you'd like the coverage to last.
With the assistance of experienced financial professionals, you can carefully evaluate your options and choose a policy and amount tailored for your needs. Some of your options include:
- Term life insurance—an affordable policy that makes coverage available to your family to offset the loss of your income during your peak earning years
- Universal life insurance—a policy that combines life insurance protection with a cash accumulation fund element
- Variable life insurance—an insurance policy that combines traditional life insurance protection with investment options
Investors should consider the investment objectives, risks, charges, and expenses carefully before investing in the fund, contract, and/or underlying portfolios. The prospectus of the fund, contract, and/or underlying portfolios contains information relating to investment objectives, risks, charges, and expenses, as well as other important information. Contact your financial professional for the prospectuses. You should read the prospectuses carefully before investing.