Life insurance protects a family's financial future in the event of a breadwinner's death. There are two main types of life insurance: term insurance, which provides affordable coverage for a set period of time, and permanent insurance, which provides lifelong coverage and allows savings to accumulate. An insurance professional can help determine the right amount and type of coverage needed based on factors like income needs, debts, and future expenses like education.

1. Life Insurance Protecting Your Family’s Future

2. What is Life Insurance? Why is Life Insurance important? Types of Life Insurance How much coverage do you need? Erie Family Life Insurance products Note: Insurance policies vary. Always be sure and discuss your individual needs with a professional.

3. What is Life Insurance? Life insurance protects against the economic loss caused by the loss of a human life.

4. Why is Life Insurance important? Replace income for dependents Pay final expenses Create an inheritance for heirs Pays federal and state death taxes Make charitable contributions Create a source of savings

5. Types of Life Insurance Whole Life / Permanent – Pays a death benefit whenever death occurs. Three common variations: Traditional Whole Life Universal Life Variable Universal Life

6. Types of Life Insurance Term – Usually purchased as a temporary need for protection, benefit is payable only if the insured dies during a specified time period (term). The premium is paid in exchange for a death benefit only (no cash value).

7. What type is right for you? Term - Coverage for a specific period of time. Large amount of life insurance is need on a limited budget. Lower premiums to begin but increasing with age upon renewal. Permanent - Provides coverage for life. Accumulate savings Guaranteed premium (rate remains the same regardless of age).

8. When should I review my Life Insurance Needs? Getting married Buying a home Having a child Changes in your marital status Annual job performance review

9. How much do you need? Immediate expenses Unpaid medical bills, final tax bills, attorney fees Outstanding debt - Car loans, student loans, mortgage, credit cards Survivor’s income Reasonable daily expenses, college tuition Charitable contributions

10. Calculate how much life insurance you need: Erie Family Life Insurance Calculator www.erieinsurance.com/LifeCalc Tip Sheet

11. DIME Method D – Death Expenses I – Income Replacement M – Mortgage Cancellation E – Education Fund

12. Lisa Fuller Fuller & Associates Insurance 410-914-5467 www.InsureWithFuller.com www.InsureWithFuller.com [email_address] We’ve got you covered. It’s our true blue promise. Contact Information