(NAPSA)—Parents identify with Yoda morethanotherStar Wars characters whenit comesto family finances— according to a survey by New York Life. Yoda is patient, uses past experiences to guide future decisions andfinds it importantto teach the next generation. ‘Yet, many parents aren't following Yoda's most famoussaying “Do. Or do not. There is no try” whenit comes to taking the mostbasicstep to secure their family’s finances: buyinglife insurance. No matter what your needs, goals, hopes and dreams,a solid life in- recognize the valueoflife insurance in thereality): peaceof mind youdeserve. back under your roof or need to pay for college, your life insurance plan can change, too. A professional life insur- ter job at providing simple information andfinancialtools on their websites. For ance dependson your needs. Research continuesto show that parents protecting their family but haven't been able to “Do” Here are four commonreasons(and 1.It is hard to get started—Not anymore. Companies are doing a bet- example,on NewYorkLifessite, you can now create a plan around what's most important to you andaccess educational material to help yougetstarted. 2.1 have it at work and that is enough—Not really. Life insurance through work is very beneficial but typ- ically covers one year of your salary. If you were to die, that benefit could run out quickly. Experts agree that most surance strategy can grant you the ance agentcan help you build a strategy that providestheflexibility you need. Choosingtherighttypeoflife insur- For example, term life insurance is a good place to start ifyour needsare temporary orshort term. Itoffers affordable coveragefor a set period oftime. If your needs are longterm,a per- manentpolicy (most commonly whole life) might be the best option. In addition to the insuranceprotection, you build up cash value within the policy that growson a tax-deferred basis and, if structured properly, can be accessed tax-free. If needed, the cash value can people need 10 or more years of their salary coveredby life insurance. 3.1 can't afford it—You probably be accessed via loansto help pay for a can. People are surprised whenthey find child’s education or any other imporout how affordable life insurance can be. tant expenses,life insurance shouldbeat the top ofthatlist so that your child’s plans for the future can stay on track evenif the worst were to happen. 4.My life could change—Not to and death benefit). While having a child brings lots of new worry. Whether you changejobs, have more children, welcome your parents financial need (though loans accrue interest and reduce cash value You may find that a combination of permanentandterm insurance is best for you. Tostart planning for your family’s future, visit the Agent Locator at www. newyorklife.com.
