Redstone Federal Credit Union

Life insurance is an essential piece of any financial portfolio. Investing in your future is more than buying stocks and boosting your savings. It also involves caring for those who depend on you when you are gone. Life is fragile, and it is important to prepare for the unexpected. September is Insurance Awareness Month and is an opportunity to shine a spotlight on life insurance and encourage more Americans to get the coverage they need. WHO NEEDS LIFE INSURANCE? e question of who needs life insurance is very personal. An easy way to determine if life insurance should be added to your portfolio is to answer these simple questions: ¸ Are your funeral expenses taken care of? ¸ Do you have dependent children? ¸ Does your spouse rely on your income? ¸ Do you own a business? ¸ Do you want to grow your wealth? If you answer yes to any of these questions, then you should consider purchasing life insurance. THE BASICS ere's a lot of information concerning life insurance, but you don't need to understand it all to get started. Once you have determined you need life insurance, the next step becomes what type of coverage you should choose and how much. ere are two main categories of life insurance, term and permanent insurance. TERM LIFE VS. PERMANENT LIFE Term life insurance is the simplest and least expensive option. It covers you for a set period of time. You might consider term life insurance when you have a family that depends on your financial support or while you have a mortgage. For example, your term life policy might last until your mortgage is paid in full or your children complete college. Permanent or whole life insurance provides coverage for your entire life as long as your premiums are paid. Because of the length of coverage, it costs more than term life insurance. ese policies may have features that offer a cash value that can be used to invest or pay some of the premiums later in life. Permanent life policies are complicated, so it's best to talk to a financial planner or a life insurance specialist when deciding if one is right for you. Get a personal consultation to determine your insurance needs. Call Redstone Insurance Services at 256-617-6005 to set up your appointment. September Is Insurance Awareness Month Redstone Services Group SM , LLC d/b/a Redstone Insurance Services, is a wholly owned subsidiary of Redstone Federal Credit Union ® (RFCU ® ) but are separate entities. Redstone Services Group, LLC is a licensed insurance agency that sells insurance policies issued by third-party insurance companies. The insurance products are not products or obligations of RFCU, are not NCUA or federally insured and are not endorsed, warranted, recommended, or guaranteed by RFCU or any government agency. The insurance products may be offered by a dual employee who also sells insurance products on behalf of a third-party insurance company. RFCU and its affiliates are committed to fair, equitable, and nondiscriminatory practices. Determine Your Life Insurance Needs r e d f c u.o r g | 7

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