In order to understand the importance of having life Insurance, we would invite you to read a short list of basic benefits of buying a life insurance policy.*** please note that there could be several other benefits, which we are not going to mention here to keep it short 🙂
#1. To protect your family and loved ones
In case of a family with young children, one needs to make sure that the family income is protect. We recommend to at least have life insurance equal to the face amount which provide your family enough money to survive 10 years without you! You got to make sure that surviving spouse gets enough time to figure out what he or she now have to do ( some time needs to learn a new trade) children should be able to complete their studies . In other words, family should have enough to maintain their lifestyle for some good time!
To leave an inheritance :
Assume you have not been able to acquire other assets to pass to your family. By buying life insurance policy you could create a decent inheritance for your family. It could be a great strategy to give your family and kids a stable financial future.
TO PAY OFF DEBTS AND OTHER EXPENSES
In addition to providing income to cover everyday living expenses, your family needs insurance to cover any outstanding debts, like the mortgage, credit cards and car loans. Other expenses include funeral and burial costs that can easily run into the tens of thousands of dollars. You don’t want your spouse, parents, children or other loved ones to be left with any extra financial burden in addition to the emotional burden they’re already suffering.
TO ADD MORE FINANCIAL SECURITY
Like most parents you probably want to know your kids will be well taken care of when you’re gone. You not only want them to get a quality college education, but to provide for other life ventures like getting married or starting a business. For this reason, additional coverage is absolutely essential while your kids are still at home.
TO BRING PEACE OF MIND
We can’t know when we’ll pass away. It could be today, tomorrow or 50 years from now, but it will happen eventually. No amount of money could ever replace a person. But more than anything, life insurance can help provide protection for the uncertainties in life. Without a doubt, having life insurance coverage will bring you and your family peace of mind. It’s one thing you can be sure of and you’ll no longer have to question whether they’ll be taken care of when you’re gone. Life insurance protects your heirs from the unknown and helps them through an otherwise difficult time of loss.