Life insurance is designed to protect you and your loved ones. Life insurance is like a silent security blanket. You know it’s there to protect you but you then again you may never use it. Sometimes when we continue putting money into something that we never use we may have a tendency to stop paying for it. After you learn more about the way that life insurance can take care of your loved ones, hopefully you will be more inclined to buy a policy if you do not already own one. If you do own a policy, keep paying your premiums, the money is well spent. If you are suddenly taken ill or die, your loved ones will be glad you kept your life insurance policy active.
6 Reasons Why You Need Life Insurance
#1 – Personal Debt
If you die prematurely with personal debts do you want to saddle your loved ones with that debt? Life insurance can ease your survivor’s financial burdens by paying off your debts.
#2 – Unexpected Expenses
Your loved ones will have to carry on after your death, unexpected expenses may arise that will have to be met. If a new roof or new car is needed, your loved ones can use life insurance to pay for those unexpected expenses.
#3 – The Mortgage Or Rent
To ease the pain of death families usually prefer to stay in their homes. Life insurance will give your loved ones that option. It can pay off the mortgage, provide future mortgage payments or continue to pay the rent; this way your family will not lose their home.
#4 – Educational Expense
Life insurance can pay for current or future educational expenses of your children.
#5 – Replacing Your Income
Your loved ones may still need your income to meet their financial needs. Life insurance can replace all or a portion of your income.
#6 – Final Expenses
Funeral costs will have to be paid for. Life insurance will help your family avoid dipping into their emergency fund, mortgage money or college fund to pay for funeral costs.
Doesn’t your family and loved ones deserve the best financial protection money can buy? Yes they do so go online or call your insurance agent and buy some life insurance today.