Reasons to Purchase Life Insurance
Jason and Amy are raising a family while paying down their mortgage. Whatever happens, they don’t want their children to lose their home or be burdened with their debt.
Jason and Amy purchased 30-year term life insurance policies to pay off their mortgage. Their wish is to have the home passed down to their children.
Provides coverage of a fixed death benefit amount for a specific period of time.
David is the primary wage-earner for his family and worries about a time he might not be there anymore. He wants to ensure his family isn’t burdened by costs for his funeral or unpaid medical bills.
David purchased a permanent life insurance policy from Erie Family Life to provide the funds necessary to pay final expenses. He feels better knowing it might help ease their pain during a stressful time.
Guaranteed protection with flexible coverage amounts and payment options.
John and Lisa each contribute to their household of seven. They want to make sure the income they provide today is there for the family should something happen to either of them.
20-year term life plans from Erie Family Life put John and Lisa’s concerns to rest. Each policy can be used to help pay off debt and pay the monthly bills in order to maintain the family’s lifestyle.
Provides coverage of a fixed death benefit amount for a specific period of time.
James and Mary are proud of their daughter who is in college. They hate to think about it, but what if something was to happen to her? Could they pay off the student loans they cosigned?
College loan protection coverage can protect James and Mary from the added heartache of paying college debt. The 20-year term life insurance policy they selected can be used to pay off student loans.
Provides coverage of a fixed death benefit amount for a specific period of time.
Like many of us, Michael is looking for a safe way to ensure his dreams of a comfortable retirement become reality. He is planning to save for the future and wants to guarantee an income during his retirement years.
Michael wasn’t sure where to start so he talked to his local ERIE agent. Erie Family Life offers several retirement savings options like annuities, Individual Retirement Accounts (IRAs) and life insurance planning for businesses.
Provides coverage of a fixed death benefit amount for a specific period of time.
Barbara has worked hard to build a good life and wants to leave behind a legacy that matters. She would like to establish a plan that would help her family financially and ensure charitable gifts to her favorite organizations.
Barbara purchased a permanent life insurance policy from Erie Family Life that will provide for her family and her favorite charities. It offers guaranteed cash value accumulation and a guaranteed death benefit.
Combines the affordability of term insurance with the long-term security of permanent life insurance.
Karen and Susan are partners who put their heart and soul into making sure their business thrives. They want to be prepared in case something should happen to one of them or to a key employee.
Karen and Susan talked to their ERIE agent about how to use life insurance for smart business planning. They purchased a universal life policy to provide funding for a buy-sell agreement and key person protection.
Erie Family Life provides insurance solutions for business owners to keep a business going if tragedy strikes.
Jason and Amy are raising a family while paying down their mortgage. Whatever happens, they don’t want their children to lose their home or be burdened with their debt.
Jason and Amy purchased 30-year term life insurance policies to pay off their mortgage. Their wish is to have the home passed down to their children.
Provides coverage of a fixed death benefit amount for a specific period of time.
David is the primary wage-earner for his family and worries about a time he might not be there anymore. He wants to ensure his family isn’t burdened by costs for his funeral or unpaid medical bills.
David purchased a permanent life insurance policy from Erie Family Life to provide the funds necessary to pay final expenses. He feels better knowing it might help ease their pain during a stressful time.
Guaranteed protection with flexible coverage amounts and payment options.
John and Lisa each contribute to their household of seven. They want to make sure the income they provide today is there for the family should something happen to either of them.
20-year term life plans from Erie Family Life put John and Lisa’s concerns to rest. Each policy can be used to help pay off debt and pay the monthly bills in order to maintain the family’s lifestyle.
Provides coverage of a fixed death benefit amount for a specific period of time.
James and Mary are proud of their daughter who is in college. They hate to think about it, but what if something was to happen to her? Could they pay off the student loans they cosigned?
College loan protection coverage can protect James and Mary from the added heartache of paying college debt. The 20-year term life insurance policy they selected can be used to pay off student loans.
Provides coverage of a fixed death benefit amount for a specific period of time.
Like many of us, Michael is looking for a safe way to ensure his dreams of a comfortable retirement become reality. He is planning to save for the future and wants to guarantee an income during his retirement years.
Michael wasn’t sure where to start so he talked to his local ERIE agent. Erie Family Life offers several retirement savings options like annuities, Individual Retirement Accounts (IRAs) and life insurance planning for businesses.
Provides coverage of a fixed death benefit amount for a specific period of time.
Barbara has worked hard to build a good life and wants to leave behind a legacy that matters. She would like to establish a plan that would help her family financially and ensure charitable gifts to her favorite organizations.
Barbara purchased a permanent life insurance policy from Erie Family Life that will provide for her family and her favorite charities. It offers guaranteed cash value accumulation and a guaranteed death benefit.
Combines the affordability of term insurance with the long-term security of permanent life insurance.
Karen and Susan are partners who put their heart and soul into making sure their business thrives. They want to be prepared in case something should happen to one of them or to a key employee.
Karen and Susan talked to their ERIE agent about how to use life insurance for smart business planning. They purchased a universal life policy to provide funding for a buy-sell agreement and key person protection.
Erie Family Life provides insurance solutions for business owners to keep a business going if tragedy strikes.
How much would you need to leave behind?
Estimate your coverage needs with our life insurance calculator. Fast, private, and no obligation to send to an agent.
to raise a child.
for a modest funeral.
per month for $250,000 in life insurance.
COMPARE
See how different types of
Life Insurance stack up.
LIFE INSURANCE OPTIONS | WHAT IT IS | WHO IT'S FOR |
Term Life |
Select from a 10-, 15-, 20- or 30-year plan to protect. |
People who need cost-effective protection for loved ones left behind. |
Whole Life |
Protection with premiums and coverage that are guaranteed to remain the same for your lifetime. |
People who need entire life protection for family with a guaranteed premium. |
Universal Life | Entire life protection; includes a policy cash value with flexible payment schedule. |
People who need:
|
Find out if ERIE is right for you. An agent will be in touch.
Ready to get started?
Complete the from below to find a local ERIE agent and get started.
1. About you
Age
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Relationship
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Children
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Final expenses
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Income
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Mortgage
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Student loans
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Other debt
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Monthly expenses
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Education
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Other education
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Inheritance
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Other benefits
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Other assets
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How much would you need for final expenses?
This covers funeral costs and/or medical expenses not covered by health insurance. $15k is an average, but you might need more (e.g., your family would need to travel for a funeral).
What is your personal annual income?
We'll use this to help determine your monthly expenses.
What's the total amount of student loan debt you're responsible for?
This includes existing student loans from a spouse/partner and/or children.
How much would your family need for added expenses, per month?
Consider expenses like food, utilities, transportation, plus extras like vacation. (Mortgage or other debts are covered separately.)
How many years would they need this added monthly income?
How much do you already have in life insurance?
For example: a policy provided by your employer.
Do you have other assets that could be used to cover expenses?
For example: savings accounts, stocks, bonds, CDs, etc.
Based on your responses, here's the estimated amount of coverage you may need to keep your loved ones protected:
Category | Amount |
---|---|
Debts & expenses | $0 |
Education | $0 |
Legacy & inheritance | $0 |
Assets | $0 |
Total | $0 |
Term life is cost-effective protection for a specified amount of time. Term doesn't build up cash value. Whole life provides protection as long as you live (premiums must be paid) with a guaranteed level premium. Universal life is a flexible policy with variable premium payments. Typically for people who need college savings, estate planning, business planning, or additional retirement savings. There is cash value.
Your agent can help you choose the policy that best fits you and your family's needs.
This calculator is a planning tool designed to assist you. The results and explanations generated by this calculator may vary due to your input and assumptions. Erie Insurance does not guarantee the accuracy of the calculations, results, explanations, nor applicability to your specific situation. All projections are hypothetical and we recommend you use this calculator as a guideline only. For a more accurate and detailed analysis specific to your circumstances and needs, contact an ERIE agent or other financial professional.