Do you believe that life insurance is only necessary when you have children? Think again.
While getting a life insurance may seem unnecessary to many single and starting couples, there are actually a lot of reasons to get one. It doesn’t matter if you have a family to support or if you’re living alone. Life insurance makes sense for your financial planning.
If you own your own home or investment property, life insurance provides you with additional mortgage protection. With life insurance, your spouse, significant other and loved ones won’t need to worry about being homeless should you die in an accident. Life insurance is great for paying off unsettled mortgage balance. The only thing you need to do is to find a term that would match the payment period of your mortgage.
You and your partner may also have future plans that depend greatly on both of you being able to earn money. These plans could easily fall apart should one of you die or suddenly get into an accident that would prevent you from being able to work. You can use the life insurance to replace whatever means of income that you may have lost and still continue your standard of living.
Life insurance also addresses end-of-life expenses, such as funerals and burials. You can spare your loved ones the ever-rising cost of medical bills and funeral services, allowing them to spend their money on the living expenses sure to arise in the months and years after. Just select a death benefit that would most suit your needs and a permanent life insurance will cover for your final expenses.
Now, if you DO have children, you have even more reasons to get a life insurance. With college tuition rates constantly on the rise, having life insurance can help secure your children’s college education. Depending on your death benefits, a portion of your life insurance proceeds can be placed aside for your children’s education, in addition to providing long-term support for your family. With the right planning, those funds you set aside can grow to an amount sufficient to pay their tuition once your children are ready to attend college. You may not be around by that time, but you can rest easy today, knowing that you’re able to help prepare their future.
As you can see, there are a lot of reasons why you should get a life insurance. Your family should always be your first priority, and the amount of security you get for an affordable price is simply too good to pass up.
The good news is that you’re not alone. At Critical Illness Policies, we can help you explore your best options and tailor a plan to meet your needs.
Call us now at 1-561 210 5822 now and speak to our experienced and helpful agents to get the answers you deserve.