Two income families and life insurance

Life insurance is designed to give you peace of mind and to protect those you will leave behind when you pass away. Some types of life insurance provide other benefits besides the death benefit, but the death benefit is what most people are interested in, When you are ready to discuss what your needs for life insurance are, we are here to talk. At Manteca Insurance & Financial Services in Central Valley, CA, we have been helping clients for seventy years. We represent them and offer some top carriers in the business. 

When a family has two incomes, the need for life insurance is different from a one-income family. Both parties need to have their incomes replaced in the event of their death. The days of the stay-at-home spouse are if not quite gone at least much less common. Many families require two incomes to maintain their lifestyle. If one part of a dual-income family passes away, it might prove to be very difficult for the other party to continue as in the past. 

You may not like to think about the possibility of dying or even worse, losing your partner, but the reality is about 5% of children in the United States lose a parent before age 15 and 70% of families will have to file for bankruptcy after losing the breadwinner. Even with two breadwinners, the possibility exists of having to change homes, schools, and lifestyles making death even harder to bear. 

Both partners in a two-income family need to have life insurance and coming up with an affordable way to protect your family may require the help of an insurance agent. In Central Valley, CA contact Manteca Insurance & Financial Services to discuss the life insurance options that are best for your two-income family.