Life insurance is often overlooked by people when they're thinking about their financial plans. Why? Life insurance can seem daunting, costly and confusing. It's not the most fun to talk about. But mostly, people don't think they need it. The truth is, they might not. However, there are a lot of cases where life insurance is absolutely necessary.
You Have Dependents If you have people that depend on your financial support for their livelihood, investing in life insurance is a must. Most people associate dependents with children, and while children are dependents, your spouse could also be one as well. If you are the sole bread winner in your family, you cannot afford to leave your spouse without financial support. When you're gone, life insurance ensures that your family can continue on in your absence.
You Have Debts Even if you don't have credit card debt, you still are probably paying a mortgage or a car loan every month. Without life insurance, your family might have to dig into savings, get another job or borrow money to pay for daily living expenses. Not to mention, the cost of a funeral and burial can be tens of thousands of dollars. Purchasing a life insurance policy eases the burden of these debts and can provide help for future monetary needs.
You Want to Leave an Inheritance In order to pass assets to your heirs, you do not need to have millions of dollars saved up. You can create an inheritance by naming your children as beneficiaries on your life insurance policy. This ensures they can join the activities their passionate about, head to college or purchase a home one day.
No one knows when they'll pass away.. It could be tomorrow or it could be 40 years from now. The only thing we all know for certain is that one day, we will all die. Though life insurance cannot cure the heartache of loss, it can help provide protection for the financial uncertainties in life.
Whether you're looking for term life insurance, whole life insurance or are interested in learning about all the different types available, we are here to help. Robin and I are happy to answer your questions and provide you with the best life Insurance quotes and policies available.