Five Reasons to Have Life Insurance

life insuranceMaking the financial decision to buy life insurance usually affects people on an emotional level. After all, buying life insurance is about protecting your loved ones after your demise. It’s a heavy subject, but something everyone needs to consider even if your employer provides a small life insurance policy. Here are the five biggest reasons that you should buy life insurance.

You can never know for sure what life will bring.

Few people expect to die suddenly, but unfortunately, it happens every day. The family and loved ones left behind are not only devastated emotionally, but left unprepared and overwhelmed with final expenses. Life insurance helps protect the ones you love from life’s uncertainties.

Your spouse, children, or partner financially depend upon you.

Though it’s common for both partners or spouses to work these days, one person is usually still the “breadwinner” or the person who makes most of the annual income. If that’s you, your spouse will have a hard time getting by when you’re gone if you don’t have a life insurance policy. This is especially true if you have children or your spouse is a stay at home parent who has been out of the workforce for years.

It’s a responsible choice.

The cost of burial isn’t the only thing that comes with death. Your loved ones will also be left trying to pay off your debts, mortgage, and every single bill you’ll leave behind. Life insurance will ease the burden and help them fulfill your obligations.

You’ll literally insure your family’s legacy.

life insurance

What happens if you become deceased before your kids finish college or before your mortgage is paid off? Not only can their lifestyle take a huge hit after your death, they may be plunged into poverty if they’re caught off guard by your passing and have to scramble to pay both your end of life expenses and their everyday bills.

Your policy will provide cash when your family needs it.

Life insurance policies typically pay out death benefits very quickly, not in weeks or months. The benefit specified in your policy is exactly what they’ll receive, as taxes generally aren’t taken out of life insurance proceeds.



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