Why is Life Insurance Needed?

Life insurance is more than a fundamental part of making a sound financial decision — it is about protecting the people you love. Without life insurance, the loss of a loved one can quickly turn from an emotional situation to a financial one.

One in three families admit that if the household’s breadwinner suddenly passes, they would more than likely suffer a financial disaster within a single month[1]. Even if you’re not the breadwinner, your family is likely financially dependent on you. Imagine how the loss of a stay-at-home parent could alter the family finances. Life insurance could cover the cost of childcare, housekeeping and more.

Single people, and those without children, also need life insurance. If you die with debt, your spouse may be responsible for footing the bill. Even if you’re debt free, someone will be paying for your funeral and burial costs, and those can be covered with a final expense life insurance policy. Although you may not have any dependents now, your aging parents or a disabled sibling may be relying on your financial future.

Still not convinced? Below are the top six uses for life insurance. If you were to die tomorrow, would these matters be handled?

6 Common Uses for Your Life Insurance

Have you made sure these things are taken care of if you were to pass away? If not, which ones would your family have to do without? Call our office today to learn more about our life insurance policies.

[1] Bestliferates.org

[2] nfda.org

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