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With over 76 years of experience, The Jordan Insurance Group is an industry leader in Life Insurance strategies and Employee Benefits. We strive for excellence through our due diligence in selecting products to satisfy our clients’ needs with proven benefit designs and tax strategies. Our Team utilizes a diversified multi-level approach in preserving, protecting and growing wealth for our business and individual clients.
Tips on Life Insurance for New Parents
Welcome to being a parent. With the excitement that is brought by the addition to your family,  it is also an important time to consider life insurance policies. This is also the right time to make an assessment on whether or not your existing coverage is adequate. Take these simple steps to ensure the security of your family’s future. Raising children mean families face different financial burdens. You should know how these payments will be made in your absence.NewParents
  • Mortgages - This is a common expense among households. Many people may already have a policy in place, but the birth of a son or daughter is a time when it may be necessary to check again on your coverage especially against interest repayments on your mortgage.
  • Childcare - As new parents, you will not only be working to provide financial support, but you can also expect to make payments for taking care of the child. In regards to debt, this could leave your partner with costly childcare expenses in the event of the death of a spouse.
  • Education - Whether it is school fees, trips, or athletic uniforms, it is important to ensure your children’s educational costs.
  • Loans and Savings - Along with your mortgage, you do not want to leave the burden of paying for your loans and credit card debt with your spouse in the event of your death. You will also want to make sure regular disbursements are transferred to your child’s trust fund account.
  • General Costs - Important everyday needs such as clothing, food, and utilities have to be continually met in the event of death of the main breadwinner of the family.
For new parents, life insurance can provide protection for you and your partner in the event of the death of a loved one. As the main wage earner, it is important to continue to maintain the current lifestyle of your family, but at the same time cover the impact of financial loss. Make the right choice on your life insurance. Now is the best time to protect your family.
William Jordan
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