EL DORADO HILLS, Calif., March 2, 2011 /PRNewswire/ -- As more than 50 million Generation Xers move into their middle age years, they are experiencing a growing uncertainty about how they can adequately plan and prepare for their future. The current economic downtown, rising healthcare costs and questionable retirement benefits compound these concerns. If you are middle-aged, or are fast approaching middle age and have children, now is the time to have a life insurance policy in place to ensure you and your family's financial needs are met.
"An individuals' earnings generally peak in the middle-age years," said life insurance expert Gary Lardy, CEO of IntelliQuote (www.intelliquote.com), a leading online life insurance agency. "With this in mind, if you-are middle-aged with children, now is a critical time for you to confirm your current coverage is adequate, or determine what adjustments you might require to ensure lifelong security for your family."
According to Lardy, a general rule of thumb is to purchase coverage five to 10 times your current annual income. That does not, however, account for special goals and needs your family may have.
"When individuals reach middle age, they tend to have a better understanding of the benefits associated with life insurance, and begin considering a policy to support their family's future financial needs. Mid-life considerations may include: college expenses, paying off debt and mortgages, anticipated retirement, and enjoying and caring for future grandchildren. However, with the current state of the economy, retirement plans, social security and savings may not adequately cover the desire to provide for your family as you'd like. Investment in a policy can help protect a family's assets and provide comfort and security when it's needed most," Lardy said.
Life insurance can supply a safety net to protect your family's future if you are no longer there to provide for them. Should a loved one pass away, their policy pays cash to beneficiaries, replacing their income, providing supplemental retirement income, and allowing the family to continue living their lives financially protected. There are a number of tools available to determine the adequate amount of coverage to create security for your loved ones. IntelliQuote offers an easy life insurance calculator to help you get started.
Premiums increase as you age, so it is important to consider maximizing your life insurance investment in your middle-age years. If you are one of the 50 million Generation Xers entering middle age, now is the perfect time to evaluate your insurance coverage and consider the future financial support your family may need when you are gone.
ABOUT INTELLIQUOTE
A leading online life insurance agency since 1997, IntelliQuote provides customers simplified, private access to compare, shop and buy life insurance online, including term life insurance quotes. IntelliQuote offers clients a wide selection of competitive products from A-rated carriers, supported by licensed agents. This simplified approach makes purchasing a policy easy and straightforward while providing a savings of up to 70% per policy. IntelliQuote is a member of the LIFE Foundation and is committed to ongoing consumer education. For information on how to estimate how much coverage an individual might need, visit www.intelliquote.com.
For more information, contact www.intelliquote.com, or 888.883.6855.
SOURCE IntelliQuote Insurance Services
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