How to protect your family from financial setbacks

(ARA) – We all know what it means to save for a rainy day. But when it comes to sudden financial storms, few of us are really prepared. Unexpected loss of income can dampen even the best financial plan, as many have learned the hard way during the recent economic downturn. That’s why having adequate insurance coverage is so important to your family’s fiscal security.

When shopping for a life insurance policy, for example, it’s important to understand all of the features and benefits available to you. If you have not shopped for life insurance products recently, you may not realize there are some new-to-the-market products with benefits and riders that may cover you during your working years. Ask your financial professional about life insurance with built in safeguards designed to help ensure your death benefit coverage remains in place by waiving premium payments in the event of unemployment or disability (terms and conditions apply).

“The reality for most Americans is they may be out of a job at some point during their working careers or they may not be able to work because of a disability,” says Mark Hug, chief marketing officer with The Prudential Insurance Company of America’s Individual Life Insurance business. “When money is tight, the ability to keep paying life insurance premiums may not be an option. Losing coverage can have devastating results for families already in difficult financial circumstances.”

One reason many Americans may find themselves unprepared for financial hardship is the prevalent mindset that “It won’t happen to me.” But consider the statistics: Nearly one in 10 American workers are unemployed, according to the Bureau of Labor Statistics. Furthermore, three in 10 Americans entering the work force today will become disabled before they retire, according to the Council for Disability Awareness.

Having adequate emergency savings, balanced debt-to-income ratios and life insurance products that keep you covered while you’re working – and when you’re not – can provide much needed peace-of-mind.

Life insurance designed to go the extra mile can greatly help strengthen your financial plan. To learn more about life insurance that protects you during your working years, visit