Supplemental Life
Life insurance can be an important step in safeguarding your family’s overall financial plan. You may have already considered purchasing term life insurance, or you may already have insurance through another source, but have you considered all the ways your family relies on you and how term life insurance can help bring some peace of mind to both you and those you would leave behind?
How Much Life Insurance Do I Need?
If you’ve considered life insurance and decided you don’t need it, read on — you may be surprised!
Experts recommend that you have at least five to ten times your annual income in life insurance protection. If you don’t think you already have as much coverage as you may need, this is your opportunity to secure additional protection for your family. You can purchase the amount that’s right for you
Do I really need life insurance if I don’t have any dependents?
Many people assume that if they don't have dependents, they don't need life insurance…but that is not always the case. If anyone would be affected financially by your death for any reason — including funeral expenses, hospital bills, or mortgage, student loan or credit card debts — a term life insurance policy can help cover these types of expenses. You should also consider parents or siblings who, while not your dependents, may receive financial support from you.
Additional Questions
Do I have enough of life insurance?
Most people are confident with their decision to purchase life insurance to help with funeral expenses, estate administration costs, debts and medical expenses not covered by health insurance. When considering these costs, it’s vital to factor in expenses like your mortgage, college tuition, a spouse’s retirement, and the cost of services you currently provide which may need to be paid for in your absence (such as home maintenance, tax preparation, etc.) as well as hidden expenses currently paid for by your employer (such as healthcare, retirement funds and other benefits). Moreover, many people forget that certain life events result in an increased need for life insurance. For example, your children may be getting closer to college age, your spouse may not be working, or you may be supporting aging parents.
That will never happen to me.
Having a family changes everything. First and foremost, it forces us to plan for the future…and even for events that may be inconceivable to us. While no one enjoys dwelling on harsh realities, purchasing life insurance may help to decrease anxiety you may feel about your family’s financial protection.
More Details
Eligible to Enroll: All Active Dues Paying Members in good standing, expect for any person working on a temporary or seasonal basis.
Monthly Premiums: Rates are available for review after registering. Select "Enroll Now" to begin the enrollment process.
Benefit Amount: Up to $150,000. All coverage is Guarantee Issue.
Spouse: Up to $30,000, not to exceed 50% of member amount.
Child(ren): Birth to age 26 years: $10,000.
Marketplace Benefits
Don't Miss Out
Reliance Standard is a branding name. Reliance Standard Life Insurance Company (Home Office Schaumburg, IL) is licensed in all states (except New York), the District of Columbia, Puerto Rico, the U.S. Virgin Islands and Guam. First Reliance Standard Life Insurance Company (Home Office New York, NY) is licensed in New York and Delaware. Standard Security Life Insurance Company of New York (Home Office New York, NY) is licensed in all states. Product features and availability may vary by state.
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