Life Insurance Made Simple
Deep, deep down you know you need life insurance; your loved ones deserve it. Your emotions tell you that buying life insurance is the right thing to do but you may need a little push to logically justify it. Here you go.
Top 3 Reasons To Buying Life Insurance Is Simple
#1 – Personal Debt Relief
Dying with a boatload of personal debt is not the responsible thing to do. The right thing to do is to pay off all of your debt before you die. That logic however only works if you know when you will die. Since most of us do not know when we will die, life insurance to pay off your debt is the next best option to paying your debt off in advance. Insurance will relieve your loved ones from the burden of your credit card debt, car and mortgage loans.
#2 – Final Expense Coverage
If your death is unplanned for, in other words, unexpected, your loved ones will be filled with grief. Do you really want to burden them with the worry of paying for your final expenses when life insurance is a much better option? Funeral costs, medical and legal costs can add up thousands of dollars; that is a lot of money. Most people nowadays have a hard enough time keeping up with their daily living expenses. Even though your family loves you, if they have to cough up extra money to pay for your unexpected final expenses they may not be able to. Life insurance will help you plan in advance. You and your loved ones will have the peace of mind knowing they will not be burdened with unexpected final expenses.
#3 – Emergencies
The right type of life insurance policy can be used as the perfect emergency fund. If you buy a permanent life insurance policy it has living benefits; the most common is the cash value. You can withdraw your cash value for unexpected expenses such as a new roof, new car, auto repairs, tax obligations, college funding or any other emergency you or your family may encounter. With most permanent policies you do not have to pay back the loan, the loan amount will just reduce the face value of the policy.