You’ve seen the commercials, you’ve had a friend, or a previous insurance agent mention the need for life insurance and didn’t take. Maybe the time didn’t feel right. And perhaps now you have purchased a home or about to have a baby, and you are wondering if you should buy a policy. Whatever the reason for not having a life insurance policy, you are not alone.
For a variety of reasons, people just don’t carry life insurance. Maybe they do not want to think about their mortality, or it icks them out. But the thing is, if you have a family, it is so important that they have a way to maintain their lives after you pass. Or at the very minimum pay to provide your stingy butt a proper burial.
Essentially, life Insurance is a type of policy that you make monthly payments on and when you die will pay out a sum of money to your selected beneficiaries.
The great thing about life insurance is that you can buy just enough to pay for funeral costs or purchase a policy that not only pays a death benefit but earns money the longer you have it. Still not convinced?
Reasons Life Insurance is So Important
Life insurance should be a priority because it keeps your loved ones from starting an online fundraising campaign to pay for bills after you are no longer around. It also prevents them from having to put your family home on the market because they cannot afford the mortgage without you. Life insurance takes the stress of worrying about final expenses while they grieve your loss. And it eliminates the worry of how soon they will have to go back to work while they are still grieving.
If you still have misgivings, here are some practical reasons why life insurance should be looked at as a necessity, not a luxury:
Pay Off Debts: Debts such as a mortgage, credit cards, car loans, and even your funeral expenses can adversely affect your family and the way they are used to living. But with life insurance, they can take care of the things they need to.
Protect Your Kids Future: You can help provide for your children’s future college expenses, purchase a home and even cover their wedding costs if the unforeseen happens.
Peace of Mind: If you want to give not only yourself but the ones you love the confidence they will be protected if something happens to you, then a life insurance policy can be an inexpensive way to do that. You will rest easy knowing that you do not have to worry about their financial future and continue the lifestyle they are accustomed to.
Funerals Are Costly: YA basic funeral can cost anywhere between $7,000-$10,000. A small life insurance policy alleviates your family’s worry and ensures that your final expenses are covered.
Why You Should Buy Life Insurance Now, and Not Later
The biggest reason you should buy insurance now is that tomorrow is not guaranteed. It just isn’t, and you do not want to leave your family scrambling for what to do next. If you need a less emotional reason, the younger you are when you buy life insurance, the cheaper it will be. That is where young people who think they do not need life insurance are making a mistake.
Our licensed insurance professionals can answer all your questions about life insurance and show you how things have changed quite a bit over the years when it comes to the application process. Find your agent now.