You have a job, a house, and a family. You have a life! And I’m sure you’ve worked hard to put this life together. So, have you given any thought as to what could happen if you were suddenly not around to help sustain those things for your family? This is why life insurance is so important to consider. You’ve built a life, now it’s time to take a look at how you can safeguard it for your family's future.
The simple answer to why you need life insurance is that it protects your family should you pass away. Regardless of how much you make, you need to consider how your missing position in the home can impact your loved ones. If you’re the breadwinner in the family, how would the current mortgage, car payments, loans and any other debt be paid? Even if you’re a stay-at-home parent who babysits the children seven days a week while your spouse works, think deeper into how your position would need to be replaced. The children may now need a babysitter, the home still needs to be upkept, and groceries still need to be bought. All of these necessities can easily become an expense. So, no matter what your role is in the family, your position matters!
To give your family the peace of mind that they can continue living the same lifestyle they are accustomed to, life insurance is vital to obtain. Life insurance would pay your family a set amount, non-taxable, at the time of death. They won’t have to worry about funeral costs, payment of your debts, mortgage payments or even the cost of their current lifestyle. Any debt you were taking care of will be able to be taken care of if the correct life insurance amount is selected. So, if the situation arises, your loved ones can focus on mourning but also have peace knowing they won’t have to worry about the future when it comes to a financial loss.
Life insurance can be purchased at different coverage and price levels. Prices will be determined by the amount of insurance you select as well as other items such as age, sex, and health. Life Insurance is like a tailor-made suit. What fits someone else perfectly may not be the same for you. So, it’s important to work with a well-versed insurance agent to figure out what level of coverage would be the most beneficial for you. It may be hard to think about these things, but it’s crucial that you do it in order to protect your family.
Life insurance can be important for anyone in any situation. Especially If you have a family who you support monetarily or if you have debt. Life insurance should be a priority to obtain and maintain. You as an individual will always be irreplaceable to your loved ones but having something in force for when you’re gone can definitely relieve your family of a potentially big financial burden. With a life insurance policy, you can make sure you leave your family with confidence that they will be able to make it through in the worst-case scenario!
