01 Nov Life Insurance is Important: 10 Great Reasons Why You Should Get Life Insurance
We live in a world of uncertainty of what the future holds. For a lot of people life insurance is usually not on the top of their list of things to look in to however a great part of being a responsible adult is to plan to protect your loved ones in the event your not around to do it anymore.
Getting a life insurance policy can relieve a huge load off your mind and really help you plan for the future. There are many reasons why life insurance is so important but we've summarized those within these top 10 reasons for you to be able to consider everything life insurance helps with.
1. Coverage Thru Work Is Unlikely To Be Sufficient
Most employer funded life insurance policies give the employee roughly one to two times their annual salary. This may be enough for a single person but as soon as you factor in dependents, debts, mortgages etc. you realize this is definitely not enough coverage.
2. Getting Life Insurance Coverage Isn't As Complicated Or Expensive As You May Think
A lot of people think life insurance has to be expensive but the reality is with all the options available you can easily customize a plan that fits your budget and lifestyle. In addition our qualified brokers can make the process easy to understand and complete with minimal stress for you.
3. To Pay For Final Expenses
Funeral and burial costs can really become expensive. Your personal life insurance policy can help take away the financial stress from your loved ones and ensure there is enough money available to pay off any funeral and/or emergency expenses upon your death.
4. Peace Of Mind
Being able to plan for the future and knowing that your loved ones will be taken care of no matter what can help you achieve greater peace of mind.
5. Get Covered While You Can
The cost of life insurance increases with age so it's always a good idea to get it early. In addition if you develop a serious illness you may no longer qualify for life insurance so it's always a good plan to have it in place earlier in life.
6. Plan For Your Children's Education
You want to make sure that once your no longer here your children's educational needs are looked after and they have the funds available to pursue a higher education. A life insurance policy can help with that by making sure they are taken care of no matter what.
7. Plan To Replace A Loss Of Income
A loss of income whether from the a primary or secondary bread winner can be a huge blow to a family. Be getting life insurance you ensure that your loved ones are financially secure and don't have to deal with money problems once your not here.
8. To Buy A Business Partners Share
If you get insurance on your business partners life it ensures that if he/she dies there is enough cash available to buy his interest in the company and pay his/her company obligations without having to sell the company itself. Life insurance can safeguard your business and ensure business continuity.
9. To Pay Off Financial Obligations
You don't want to leave your loved ones burdened with financial obligations likes debts and mortgages. A good life insurance policy will take care of that and help protect your families financial well being.
10. To Give To Charity
You can choose to make a charitable organization the beneficiary of your life insurance policy. This way you can leave a lasting, substantial gift to a worthy cause which you may not have been able to donate to during your lifetime.