30 May Top Reasons to Get Life Insurance Coverage
Consider these top reasons why you should get life insurance.
Life insurance is one of those policies that people know they should get but far too few people actually have. It’s one of the most overlooked policies since it’s easy to put off purchasing coverage when you’re young and healthy. However, this can be a costly mistake to make since premiums tend to be much lower when you’re fit and young. If buying life insurance is on your to-do list and you still haven’t gotten around to buying it, take a look at these top reasons why you should secure coverage now.
- It replaces lost income
Most families rely on one or two forms of income to meet financial demands and afford daily life. Life insurance works to replace your income if you were to die suddenly, which means that your family would not be helpless when the monthly bills come around.
- It covers burial expenses
Believe it or not, but funeral expenses can total several thousand dollars. Don’t leave your family in the lurch. Life insurance can give you and your beneficiaries the financial means to pay for your funeral, lifting a burden off of them at the difficult time of losing you.
- It helps to pay off debt
Whether it’s student loans, car payments, or a mortgage, a life insurance policy can help your family to pay off remaining debt in your name. If you do leave your family debt, your spouse may be entirely responsible for repayment. If they have lost your income too, it may make for a very difficult time.
- It can build cash value
A term life insurance policy is set for a determined period of time. Another option of life insurance, whole life insurance, covers you for your whole life and allows you to build up cash value over time. That cash value can act as an extra cushion that you can tap at any time. This may come in handy if your family experienced a financial emergency down the road.
A comprehensive life insurance plan can protect your family and wallet. If you need help securing a life insurance policy is best for you and your family’s needs, get in touch with industry professionals. Contact Kevin or Marci to get started on securing the right life insurance today!