Life insurance protection for your family 

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How can life insurance help my family?

Life insurance gives you peace of mind while you’re alive, and financial support for your loved ones when you’re gone. It’s something you should have if there are people in your life depending on you financially. And purchasing a policy sooner, rather than later, will give you more options and flexibility, and improve your future financial security.

The death benefit from a life insurance policy can provide financial security, but what should it be used for?

Common uses for life insurance include:

  • Income replacement – continue to pay the mortgage, outstanding bills and debt, and maintain your family’s lifestyle
  • Children’s education – help ensure your children don’t have to struggle to afford college
  • Final expenses – ensures your family can pay medical bills and funeral expenses
  • Wealth transfer – a tax-efficient way to transfer financial assets to your heirs
  • Leaving a legacy – a financial gift to a spouse, children, grandchildren, or a gift to an organization, charity, or cause
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When do you need to consider life insurance?

Life insurance is not a one size fits all strategy. As you go through life, your obligations, plans, and needs change. Where you are in life and key life events are the most important factors in determining when to buy life insurance.

Read on to learn why you should consider life insurances at these important life stages:
  • Starting out

    Early on in your career, you may be asking yourself why do you need life insurance if you don’t have a family or dependents? Just because you don’t have dependents doesn’t mean you don’t have other obligations and considerations.

    • If your parents supported you by cosigning for student loans, a car, or credit cards, those debts could fall on them.
    • If you’re living with a partner and sharing bills, you probably don’t want to constrain that person with higher financial obligations while they’re grieving your loss.
    • When you’re young and healthy, life insurance can be more affordable, and it's more likely that you will qualify for it.
    • Today, Americans are living longer than ever. As a result, most of us must plan for a retirement that could last for 20 to 30+ years. Purchasing a permanent policy when young can help build significant cash value that can be used to supplement your retirement income.
  • Middle career

    As you get older, your life changes. You may have a house and young children at this point, or you’re thinking about starting a family. You may have also started a new higher paying job by now. The need for life insurance is clear: if something happens to you, you want to feel confident that your family will be taken care of financially. That typically means:

    • Paying off the mortgage and other debt
    • Replacing lost income
    • Saving for kid’s college education
    • Saving for the unexpected
  • Older, nearing or at retirement

    Many people in or nearing retirement may be unsure as to whether life insurance is necessary, especially if you now have kids who are grown and no longer depend on you for financial support. You might be divorced. Your peak earning years may be in the past, and your career is winding down. You may even be coming into an inheritance.

    Depending on your specific situation, your needs could vary considerably. At this point in your life, you should be thinking about answering the following:

    • Do you have a mortgage that needs to be paid off?
    • Will your spouse/partner be able to get by on their own income?
    • Do you still need to help ensure that your spouse/partner has enough to live on in retirement?
    • Do you have a large estate or other financial assets, and are you concerned about tax liabilities that may substantially reduce an inheritance for the people you love?
    • Do you have a family business that you would like to see continue after you die?
    • Is your family ready financially to pay for funeral costs? Do you want to leave those expenses on them?
  • Homeowner

    Protect your family with life insurance solutions for your mortgage. When you become a homeowner, purchasing a life insurance is a way to help protect your family and ensure that your loved ones will be able to stay in the home if anything unexpected were to happen to you.

    Learn more - watch a short video

  • Recently married

    Life insurance is important for newly married individuals as it provides financial stability and support to a spouse, especially in the event of the primary breadwinner’s death.

    Learn more - watch a short video

  • Recently had a baby

    One of the most important things parents can do to protect their children’s futures is to purchase life insurance. If you pass away suddenly, life insurance offers your children financial protection.

    Learn more - watch a short video

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Life insurance resources

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How much life insurance do I need?
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Life insurance video library
Protect your loved ones through your life stages with life insurance and learn how with these short videos.

Life insurance testimonials from

A Legacy of Love
A Promise Kept
Mathews Dixon Family | Life Insurance is a True Financial Lifeline

Horace Mann Life Insurance Company underwrites Horace Mann life insurance products. The information provided here is for general informational purposes only, and should not be considered a recommendation or investment, tax or legal advice.