Life Insurance: Protect What Matters Most

September is Life Insurance Awareness Month
a time to educate and learn about how life insurance is important part of a sound financial strategy.

Life Insurance 101

How Much Life Insurance Do You Need?

There is no one-size-fits-all when it comes to life insurance. How much and what type of coverage is needed is based on the individual and his or her:

  • Age
  • Health
  • Income, current financial situation
  • Number of dependents

Plus, as people move through life, their life insurance needs may change based on changes in their personal situation, including getting married or divorced, having children, change in income, etc.

Based on these considerations, a basic rule of thumb is to have enough life insurance coverage to provide approximately 10 times your annual household income. For example, if the current household income totals $50,000, consider having a total of $500,000 in life insurance protection.

7 of 10

Americans say they personally need life insurance

52%

of American adults own some form of life insurance

73 Million

American say they need life insurance

Source : Insurance Barometer Study 2021, LIMRA

Types of Life Insurance

There are two different types of life insurance: Term Life Insurance and Permanent Life Insurance.

Term Life Insurance

Offers an individual life insurance protection for a specified number of years (i.e. term). This type of insurance is usually less expensive than permanent insurance with the same face value, however term insurance does not accumulate cash value.

Permanent Life Insurance

Coverage remains in effect until the policy holder’s death as long as the premium payments are made, unless the policy lapses or is surrendered. Most permanent life insurance policies also have some type of savings component that can build cash value over the life of the policy.

  • Feature
  • Tax-Free Death Benefit
  • Lower Premium
  • Access to Cash Value
  • Guaranteed Minimum Interest Rate
  • Market Participation
  • Tax Advantages
  • Flexible Premium Payments
  • Term Life Insurance
  • Tax-Free Death Benefit
  • Lower Premium
  • Access to Cash Value
  • Guaranteed Minimum Interest Rate
  • Market Participation
  • Tax Advantages
  • Flexible Premium Payments
  • Premium Life Insurance
  • Tax-Free Death Benefit
  • Lower Premium
  • Guaranteed Minimum Interest Rate
  • 1
  • 2
  • Flexible Premium Payments
  • 3
Consult With An Agent

A Business Model For Growth

Say goodbye to limitations and the status quo. WFG offers a solid business model for growth, with a wide variety of ways to earn income. As you reach new levels of advancement with WFG, your earning opportunities continue to increase. We believe our structure provides the ideal formula to motivate ambitious business owners and their teams to reach their full potential.

Learn More

Offices Across North America

With leaders serving families  across the United States and Canada, you can find a WFG office to help you launch your business. Start making a difference in your community today with the local support and structure you need to grow and expand your business.

Connect with an Agent
Ready to take the next step with WFG? See how doable it is to get your business up and running so you can start pursuing the future you see for yourself.
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.

Variables Affecting Insurance Future

When assessing your life insurance needs consider these questions and answer them honestly:

  • How much long- and/or short-term debt do you have?
  • What are your long-term goals?
  • How much of the insured’s income will be needed and for how long (how many years)?
  • How much do you want to set aside for funeral costs   and/or an emergency fund?
  • What assets do you have that may be able to cover   these costs?

Make sure to consult with an experienced life insurance agent for a thorough evaluation of your needs to ensure you obtain the right type and amount of life insurance coverage.

Life Insurance Resources

Lorem ipsum dolor sit amet, consectetur adipiscing elit. Suspendisse varius enim in eros elementum tristique.

Lorem ipsum dolor sit amet, consectetur adipiscing elit. Suspendisse varius enim in eros elementum tristique.

Lorem ipsum dolor sit amet, consectetur adipiscing elit. Suspendisse varius enim in eros elementum tristique.

We are Here to Help

Contact a WFG life licensed agent near you.

Get Started