Income Replacement

Very few of us take time to think about what will happen if the an income earner dies. It is not one of the most pleasant tasks in life but it is a necessary one.

Sources of FERS Benefits

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What to Consider

Single income or double income household? Whichever your situation is, have you thought about what would happen if this income was no longer available? Most likely it would be devastating.

If others depend on your income, proper planning is a MUST, and can help remove the financial uncertainties for your loved ones. With others depending on you, it would be wise to take some time and learn about protecting the loss of income through life insurance. It may surprise you that with a relatively small premium you can provide financial support for your loved ones.

Life insurance is one of those important purchases you make during your lifetime. If a tragedy happens, life insurance proceeds can help replace lost income. With the right life insurance coverage your loved ones will not worry about their immediate and future finances. Life insurance serves as the foundation for a family’s financial security and is one of the few things that will help give assurance during a difficult time.

One Income Family

When the family’s main breadwinner dies, the family still has living expenses and possibly other debt. With a one income family it is essential that the main breadwinner have enough life insurance to cover the missing income.

Two Income Family

If one of the income earners in a two income family dies, the amount of life insurance needed should equal the amount of lost income in order to support the same standard of living. Life insurance is an invaluable way to protect the future income needs of your family.

Speak with a GPM Health and Life agent to learn about the options available to you.

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