A life insurance plan or policy is a contract with an insurance company. In exchange for premium payments you make, the insurance company provides a lump-sum payment, known as a death benefit, to beneficiaries after you die. The people you love, called your beneficiaries, receive that money. If your plan’s coverage amount is for $500,000, the people you've named as beneficiaries get $500,000.
Why you need it?
You work hard to provide for the people you love. But what will happen to them after you’re gone? The money your loved ones are left with can help them pay for day-to-day things like groceries—and important stuff like the mortgage, college tuition for your kids and saving for retirement.
Who is it for?
If you have someone who depends on you financially (or soon will)…you may need life insurance. Whether that includes a parent, spouse or child who relies on you or a friend who is like a sister to you, those are the people life insurance is meant for. The money from a life insurance plan can be left to absolutely anyone you love, to use however they like, after you’re gone.
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1 LIMRA, “The Facts About Life and Annuities,” October 2016 Update.
2 Facts from LIMRA, Life Insurance Awareness Month, September 2015
3 LIMRA 2016 Life Ownership Study, U.S. Household Trends - 2016
Aon Insurance Services is the brand name for the brokerage and program administration operations of Affinity Insurance Services, Inc. (TX 13695) (AR 100106022); in CA & MN, AIS Affinity Insurance Agency, Inc. (CA 0795465); in OK, AIS Affinity Insurance Services Inc.; in CA, Aon Affinity Insurance Services, Inc. (CA 0G94493), Aon Direct Insurance Administrators, and Berkely Insurance Agency; and in NY, AIS Affinity Insurance Agency. The Plan Agent of the AICPA Insurance Trust, Aon Insurance Services, is not affiliated with Prudential.
Group Insurance coverage is issued by The Prudential Insurance Company of America, a Prudential Financial company, Newark, NJ.