Empty Nesting

Even an Empty Nest Needs to Be Protected

The day has come: Your children are now adults and out of your home. But while your nest is empty, you may still need coverage for life’s unexpected turns. Here’s how you can turn some of that money into financial security for your family.

After decades of raising your family, your kids are all out of the house. Now that you have an empty nest, your responsibilities have lessened. However, your loved ones may still depend on you, and life unfolds in unexpected ways. So it’s also a good time to reassess your financial status and consider how your family would be impacted if anything were to happen to you.

By understanding your needs and ensuring you continue to have life insurance, you’re helping to financially protect your loved ones even after you’re gone. There are a variety of events from which you’ll want to help protect them, like if you’re still carrying a mortgage or other debt. Or maybe you’re putting your kids through college, or supporting one or both of your parents. You’ll also want to consider your final expenses, as funerals can carry an average price tag of $10,000.1

And you never know what other financial obligations may pop up, forcing your family to make tough decisions without you. Instead of leaving them to handle a precarious situation without you, you can help ensure they remain a step ahead.

Even an Empty Nest Needs to be Protected

Even after your kids are out on their own, life insurance helps to ensure that your family is financially able to handle life’s ups and downs.
This is a good time to reassess your needs

You may have long-term obligations, like a mortgage, debt or a family that relies on your income.

  • About 44% of empty nesters still owe a mortgage on their home.1
  • The average cost for a funeral is about $10,000.2
  • Parents covered 31% of their children’s college costs in 2016-17.3

Also, you never know what unexpected financial obligations might be in the future for your family.

The Good News is That It’s Affordable.

Life insurance costs have come down over the years, and getting the right policy is more affordable than you think.

How does the cost of life insurance compare to other monthly expense?

  • $159.08 = Average monthly cost of gasoline
  • $242.75 = Average monthly cost of entertainment.
  • $262.83 = Average monthly cost of eating out4

The monthly cost of a $100,000 10-year Term Life insurance policy5

  • $19.42 per month, 55-year-old female
  • $22.78 per month, 55-year-old male

With life insurance from Amica Life, you can continue to help financially protect your family, wherever life may take them.

Sources

1. Empty Nest Households Are on the Rise, Zillow, 2017
2. Trends in Funeral Service, National Funeral Directors Association, 2017
3. How America Pays for College, Sallie Mae Bank, 2017
4. Consumer Expenditure Survey, Bureau of Labor Statistics, 2016
5. Sample monthly premiums for 10-year Term Life insurance with benefit amounts shown for a Female and Male at age shown. Rates are Premier Select and are guranteed to remain level for the 10-year period. Monthly premium rates are available via EFT (electronic funds transfer). Actual premiums can only be determined by a full applicaion and underwriting process, including some medical testing at our expense. Depending on your exact age and health, your actual rates may be higher or lower. Standard form numbers ICC15 FGCLT01-01 in most states. Not all plans are available in all durations and at all ages. Some features may not be available in all states.

Find the coverage that’s right for you by talking with an Amica life insurance specialist.

1 Trends in Funeral Service, National Funeral Directors Association, 2017.

ALIC52019 (exp. 10/20)

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