​Thinking about purchasing long-term care insurance? That could be a wise decision. The U.S. Department of Health and Human Services estimates that today’s 65-year-olds have a 70 percent chance of needing long-term care at some point.1
 
Long-term care is ongoing assistance with basic, day-to-day living activities such as bathing, eating, mobility and more. It’s usually provided in an assisted living facility, but it can also be provided in the home, either by family members or by in-home health aides.
 
Regardless of where the care is provided, it’s usually a costly service. Long-term care often costs thousands of dollars per month, and care is often needed for years. It’s easy to see how it can be a long-term drain on your savings.

​According to the 2017 Insurance Barometer Study by Life Happens, only 60 percent of respondents agreed that single parents of young children need life insurance. On the other hand, 82 percent of respondents said married couples with young children need life insurance protection.1
 
Single parents often may be in greater need of life insurance protection than couples are. That’s because a single parent could be the primary or even sole provider for the child. If you pass away, there may be no one to support your child from a financial perspective. Even if the other parent or family members will take your child in, they may not have the financial means to provide adequate care.

​Considering a term life insurance policy to protect your spouse, children and other loved ones? That could be a wise move. Risk management is the cornerstone of any solid financial plan. You can’t focus on achieving your goals until you minimize the risks that could undermine your financial future. There is perhaps no greater financial risk to your family than your unexpected death.
 
Life insurance is often an effective tool for managing this risk. You pay regular premiums to a life insurance company, and, in return, the company guarantees a lump-sum payment to your beneficiaries upon your death. Your premium amount is based on your age, health and other factors at the time you purchase the policy.

​Are you in the market for term life insurance? Or do you currently own term life insurance but are wondering whether a permanent policy may be a better strategy?
 
Term life insurance is a popular and effective way to manage one of life’s most dangerous risks. If you have a spouse, children or other family members who are dependent on your support, life insurance can help them manage their affairs should you pass away. They can use the life insurance death benefit to cover living expenses, pay down debt or address other challenges.
 
There are many different kinds of life insurance, but most types fall into one of two categories: term or permanent. A permanent policy is guaranteed for life as long as you pay the premium. A term policy provides coverage for a limited period, such as 10 or 20 years.