What can insurance do for you?

It’s probably not on your calendar, but September is Life Insurance Awareness Month. And it’s indeed a pretty good idea to be aware of what life insurance can do for you.

Life insurance proceeds can help meet at least three major needs.

First, the money can be used to help your family pay the mortgage and stay in their home.

Second, the proceeds can help pay for college or other education costs for your children.

And third, insurance can help pay off debts that your surviving spouse may owe if they’re a joint account holder on your car loan or credit cards.

While all insurance policies have a death benefit, some also offer a chance to build cash value. This type of permanent insurance, such as variable universal life, can provide another source of income to supplement your IRA, 401(k) and other retirement accounts. You can generally access the cash value through loans, withdrawals or surrender of the policy.

Life Insurance Awareness Month ends on Sept. 30. But your need for life insurance, and the potential benefits it provides, can last a lifetime.

This content was provided by Edward Jones for use by Tracy Milanese, your Edward Jones financial advisor at 602-265-3437.