INDIVIDUALS AND FAMILIES

Life insurance is an important part of your family's financial plan, especially during a time that could be difficult enough without the added financial stress. Have you thought about what your family would do if something were to happen to you? Would they be able to make ends meet? And if so, for how long?

At Cigna, we know you have other financial priorities1:

Cost of living expenses

(rent, mortgage, groceries, electricity)

Additional living expenses

(internet, cable, cell phones)

Building savings account(s) or emergency funds

Managing accumulated debt

(credit cards, loans)

Saving for retirement

Paying for medical expenses and more.

Money may be tight, but life insurance is one of the most important and cost-effective ways you can protect your family's financial health.

Consider this, in the United States:

Nearly 3/4 of Americans

live paycheck-to-paycheck2

57% of Americans have less

than $1,000 in savings3

More than 1/3 of all households

would feel adverse financial impacts within one month if something happened to a primary wage earner1

And the most common reasons people don’t purchase life insurance is because they think:

Life Insurance is too expensive.1
They're healthy and feel purchasing life insurance is not necessary.1
They're unsure about what their life insurance proceeds can be used for.1

But, the reality is, having adequate life insurance coverage should be an essential part of your overall financial plan - at every age. And, the sooner you buy, the more cost-effective it may be. That's because typically the younger you are when you purchase coverage, the less you'll pay in premiums. Also, you may have greater coverage amounts available to you if you don't have any health issues. The longer you wait to purchase coverage, the more you'll likely pay in premiums.

 

Did you know?

Some life insurance policies, like Cigna's Group Universal Life (i.e., GUL) policy offers cash savings options which means the sooner you begin saving, the sooner the cash value of the plan can begin growing! If you save enough in a Cash Accumulation Fund, it can become a paid-up life insurance plan!

 

Here are some resources to help you begin planning for your family's financial future:

At Cigna, our goal is to make sure you have the information you need to make informed financial decisions that can help your loved ones should you pass away prematurely.

To learn more about life insurance, read our educational and myth busting infographic!

1. LIMRA, "2018 Insurance Barometer Study." 2018
2. American Payroll Association, "Getting Paid in America Survey." 2017
3. GoBankingRates.com, "More Than Half of Americans Have Less than $1000 in savings in 2017." September 2017

Product availability may vary by location and plan type and is subject to change. Group Term Life insurance policies may contain exclusions, limitations, reduction of benefits, and terms under which the policies may be continued in force or discontinued. For costs and complete details of coverage, contact your Cigna representative. Policy form: TL-004700 et al.

All Cigna products and services are provided exclusively by or through operating subsidiaries of Cigna Corporation, including Life Insurance Company of North America and Cigna Life Insurance Company of New York (New York, NY) and Connecticut General Life Insurance CompanyThe Cigna name, logo, and other Cigna marks are owned by Cigna Intellectual Property, Inc.