Do I really need Life Insurance?
No matter where you are in life, whether you’re just entering the workforce or nearing the end of your career, life insurance is something you need. Almost half of Americans don’t have life insurance, and if you fall into the category, you need to reconsider.
So, you are probably asking “why is it so important to have life insurance?” Well, the truth is, life insurance is there to protect your family from financial crisis should something unfortunate happen to you. We insure items such as our homes, our cars, even our health, yet people neglect to insure their most important asset, themselves.
Life insurance comes in many shapes and sizes and depending on your scenario in life, your life insurance policy can be vastly different from your neighbors. Take an individual with a family for example. A head of household that is the major breadwinner for a family will want a higher face value policy to protect their family in the event of their untimely death. Things such as mortgage payments, loans, college tuition, all items that their family is relying on their income for.
Another example is someone whom maybe doesn’t have many debts, no spouse or kids, but they will still need to protect their friends and family who will be responsible for the burdens of settling their estate. Life insurance money avoids probate, which means it does not get tied up in the estate, so the money can be used immediately for things like funeral expenses.
Business owners are another key individual with whom should have life insurance on themselves or even key employees. If you own your business and your manager has an unfortunate accident, life insurance provides money to be used to find and hire a replacement so that your business can continue to run.
Regrettably, we cannot see the future and protect ourselves from the unfortunate from happening, but we can make sure to protect our family and friends in the event it does.
With the multitude of life insurance options available today, there are many ways to find a policy that fits right for everyone, in any scenario. If you don’t have life insurance, now is the time to purchase it. Contact us today to discuss what options are available for you and your needs.