The Value of Life Insurance
Why life insurance?
What would happen to your family's financial health if you and your income were gone? Could they maintain their standard of living? Pay for college tuition? Household bills? What about monthly mortgage or rent?
We know money is tight these days, but don't be tempted to skimp on one of the most important and affordable investments you can make to protect your family's financial health, life insurance.
Having adequate life insurance coverage should be an essential part of your overall financial plan—at every age. And the sooner you buy, the better. That's because the younger and healthier you are when you purchase coverage, the less you'll pay in premiums.
Some life insurance plans also offer cash savings options, which means the sooner you begin saving, the sooner the cash value of the plan can begin growing.
How much is enough?
If you're working, your employer may provide you with a life insurance policy as part of your benefits. But depending on your personal situation, that policy may not be adequate for your unique situation and needs.
Our Life Insurance Needs Assessment Calculator can help you estimate your life insurance needs based on your unique personal situation and goals.
If you find you need more than your employer provides, check to see if they allow you to purchase additional coverage. The rates for these supplementary plans are often more affordable than what you could find on your own.
Is your policy keeping pace with your life?
It's important to review your life insurance needs regularly to ensure your policy keeps pace with changes in your life. For example, events like marriage, divorce, birth/adoption of a child, reduction or increase in your income, children entering or finishing college, and large purchases like a new home can all impact the level of coverage you may need.
Depending on what changes have occurred, you may need to reassess your coverage needs. Our life insurance calculator can help you reassess your needs.
At the same time, check your beneficiary designation on your policy to make any necessary updates to be sure your policy benefits are distributed in accordance to your wishes.
Why choose Cigna?
We're experts in life insurance coverage. For more than 90 years, we've worked with thousands of employers to provide cost-effective, quality life insurance coverage we believe is unsurpassed in value. What makes our life insurance coverage so special?
- Easy-to-understand materials and helpful tools to help you understand coverage options so you can be confident your family's financial health is protected
- Prompt, reliable service that ensures questions are answered quickly and claims are paid promptly and accurately—plus legal and bereavement counseling for beneficiaries
- Value-added, no-cost services that start working on day one to help you better manage your life and health. Like tools to help you prepare a will. And discounts for savings on fitness clubs, smoking cessation, weight loss programs, and even massages.
Use our Consumer Education Toolkit to learn more about life insurance and how Cigna can help you protect your health, well-being and security. Now, more than ever, you don't want to leave your family's financial health to chance.
Consumer Education Toolkit
- Life Insurance Podcast—Listen to some important information on life insurance.
- Life Insurance Quick Tips—Read about some of the important steps you should take when purchasing life insurance.
- Healthy Rewards® Program—Learn how you can get discounts off health and wellness services.
- Lamar Odom’s Life Story—Read Lamar Odom’s realLIFEstory®. He is the Life Insurance Awareness Month spokesperson.
- Life Insurance Needs Assessment Calculator—Think you don’t need life insurance? Use this calculator to find out about your life insurance needs.
- Life insurance presentation—Watch and listen to the importance of having life insurance protection.
- Cigna's Life AssistanceSM Program—Read about the services that might be available to help you and your family with work/life support.
- Cignassurance® Program—Read about the resources that are available to beneficiaries.
- Cigna's Will Preparation Program—Learn how you can create a will and other legal documents.
Useful information on life insurance for...