When major events occur in your life, it’s a time to reflect on your financial foundation – and a good time to evaluate life insurance.

There are various times, with term life insurance often the best choice, because it provides low-cost coverage at a fixed cost for the term period you choose.

The events:

• Marriage - newlyweds buy life insurance to help take care of their spouse, should anything happen to either one of them.
• Home purchase of home refinancing - homeowners buy to cover their mortgage or loan.
• Pregnancy or birth of first child - parents use life insurance to help cover their increased financial obligations.
• Planning for teen’s college or teens going to college – parents want to protect their teen’s educational opportunities.
• Losing or leaving a job – people buy life insurance to replace their previous employer’s coverage.
• Divorce – single parents buy life insurance to help cover their new living arrangements and any dependent children.
• Death of a family member or friend – this is often a painful wake-up call that says “This can happen to me”.  It dramatizes the need for life insurance.