10 Reasons to Get Life Insurance Today
Life insurance is, on the surface, a financial decision but it’s also an emotional one. It’s about the future, caring for your loved ones and, yes, facing the fact that you may need to use that insurance. This is why many people don’t want to think about it and assume it’s more difficult to get than it is. But, once you get it, you’ll be doing the best thing you can for your loved ones.
You may also think you’re too young, too old or it costs too much, but life insurance can be the best money you ever spent and affordable plans are available for all stages of life. Consider these reasons for getting the protection you and your loved ones need from life insurance:
- Lock in your Rates Early
People often feel they are too young to worry about life insurance but this can be the best time to get it. Your rates will be lower and you can often lock them in to ensure you save money for years to come.
2) Don’t Leave Your Family with Debt
Losing you will be hard enough on your loved ones without the additional burden of paying for funeral costs, unpaid debt and other expenses. Don’t let unpayable debt be your legacy to them.
3) A Stay-at-Home Spouse is still an Earner
While a stay-at-home spouse or partner may not be earning traditional income that will need to be replaced, they still manage multiple parts of the household and your joint lives. Without this person you will likely need more money for childcare, housecleaning and other services they were taking care of.
4) You Can’t Get it Later
By the time insurance seems important, it’s likely too late to get it. Don’t let this happen to you. While you’re dealing with the sudden loss of a loved one is not the time to try and sort out how you will pay the bills. Insurance allows you time to grieve and a chance to get back on your feet.
5) It’s Not Just About You
It’s sometimes easy to forget that life insurance isn’t just about you or any one person. Even a single person with no children likely has someone who either relies on them or will be held responsible for final debts. This is especially true for small business owners who employee others. Your employees and the very company itself relies on your existence. Insurance may mean the difference between leaving a legacy and watching the doors close immediately.
6) Permanent Life Insurance is an Investment
With this type of life insurance you will have tax-free access to the money you put into it/have accumulated while you’re alive plus the pay out in the event of your death is also tax-free for your loved ones.
7) Peace of Mind
It may seem cliche, but knowing your loved ones are protected means a burden is lifted from your shoulders and the benefit of that cannot be underestimated.
8) To Pay Off Estate Taxes
Along with existing debts and funeral expenses, your loved ones will likely have estate taxes to deal with. Permanent insurance is especially good for this since it ensures coverage will remain until after death.
9) Life Insurance is About Caring
Life insurance isn’t just about the money you spend per month or leaving money to pay your final expenses. It is, at its heart, about caring for your loved ones. Leave them with the best memories.
10) Buys Your Loved Ones Times
Again, think about what you’re actually buying for your loved ones. It’s not just for expenses, you are allowing them time and options after your passing. This is especially true if you are a primary wage earner. Don’t leave them with any more difficult decisions than you have to.
Facing the need for life insurance can be difficult, but ultimately the decision is easy for most. Once you have it in place, you know you and your family are protected in the most fundamental way now and for times to come. With a few easy steps you can ensure the future of your loved. Take that first step today by contacting Arbor Creek to discuss all your life insurance options.