Financial Column by Thrivent Life insurance under the Christmas tree?

Millions of Americans are planning for their holiday shopping needs. Although there are endless possibilities of gifts you could put under the Christmas tree this season, life insurance just might be the most unexpected- and the most generous.

You cant plug it in. You cant drive it around the block. You cant wear it for an evening out.

So why even consider giving your spouse and children a gift that wont elicit squeals of delight? This gift, more than others, can help provide your loved ones a measure of security and stability when everything else in their life is being shaken.

Life insurance isnt glamorous, its just needed, says Patrick Egan, retirement spokesperson for Thrivent Financial for Lutherans. Not only can it assist families in paying for final expenses, but it can help pay off debt from credit cards, car loans or even ones mortgage. Equally important, it can help replace lost income and potentially fund long-term goals like retirement or childrens college education.

Unfortunately, roughly 70 million American adults have no life insurance coverage at all or have less than is recommended, according to LIMRA, a life insurance and financial services trade association. The amount of life insurance you need depends on many factors. Financial services professionals can assist you in addressing how much and what kind of insurance is appropriate for your needs. A wide range of product types and features make the product a potential option for most consumers.

If someone depends on you financially, you likely need life insurance, says Egan. Its that simple. People often under-estimate the extent to which a premature death affects a familys income and assets.

Should you really purchase an insurance policy, wrap it and put it under the Christmas tree?

Life insurance is one of the most thoughtful and meaningful gifts people can give their loved ones, notes Egan.

So with the iPhone, Xbox or Kindle all wrapped up, consider adding one more gift that could be far more meaningful than anything else under the tree.

This column was prepared by Thrivent Financial for your local representatives use.

Thrivent Financial is represented in the Kutztown area by East Berks Group, which includes FR Gary E Bond, Steven T Bond, Scot R Guldin and Jennifer A Weil at 102 Tomahawk Drive, Kutztown, 610-683-3564.

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