The month of September has been designated “Life Insurance Awareness Month” by, a nonprofit organization committed to helping people across the United States understand how life insurance and other insurance products can provide a valuable financial safety net.

When you buy a life insurance policy, you are purchasing peace of mind knowing that if you die while the policy is in force, your named beneficiaries will receive the policy’s death benefit. Policy proceeds, which are generally income tax free, can be used to pay for the expenses of your last illness and funeral, cremation or burial, pay off your mortgage or pay the monthly rent on your home, pay off auto loans, credit cards, and other debt, or for any other expenses your loved ones might incur.

Having life insurance in place is especially important if you are the sole or primary breadwinner in your household, but it’s also important for stay-at-home parents and homemakers to have adequate insurance coverage. After all, if a homemaker dies unexpectedly, the surviving spouse could find themselves needing funds to pay for child care, house cleaning, shopping and errands, laundry, and all the other tasks the stay-at-home spouse handled. Life insurance cannot ever make up for the loss of a loved one, but it can ease the financial burden that death can bring.

There are two main types of life insurance: Term coverage and permanent insurance. The right type of policy for you will depend on your needs and goals. Meeting with an experienced life insurance agent is the best way to evaluate different policies and options and choose coverage designed to fit your lifestyle and your budget.

To schedule a meeting during Life Insurance Awareness Month to discuss life insurance and to get answers to your questions from a knowledgeable insurance professional, contact Christopher Ferguson Insurance in Tyngsboro at 617.386.6572, or email us at [email protected].