Here’s Why Everyone Needs Life Insurance

Who needs life insurance? 

Answer: Just about everyone. 

If you’re just married and have kids, life insurance will ensure your spouse and children are provided for. If you and your spouse just bought a house, life insurance means that the mortgage payments will continue and your spouse won’t lose your house. If you are a small business owner, life insurance extends similar protections over your partners and employees. 

If you’re concerned about leaving your debt to anyone else, life insurance is for you. Or, if you’re generally worried about your passing having a negative financial impact on others, then you need life insurance. 

Life insurance can mitigate the need to buy additional mortgage insurance. It also will take care of any pending debts, helping to preserve an inheritance for your loved ones. 

At a bare minimum, even if you don’t have debts or dependents, life insurance is needed to cover your funeral and other related costs. 

But don’t think about life insurance as just about preventing financial burdens for others. 

Life insurance can also be a good investment. 

Some parents get life insurance for their children as an investment for their future. By the time their children have families of their own, they can borrow against the policy. In fact, this is something you can do for yourself as well if you have a permanent or whole life insurance policy. 

Above all else, when you buy life insurance, you’re buying peace of mind. With life insurance, you can rest easy knowing that you and your family’s financial future has been secured. No matter what happens, they will be able to stay in your house, they won’t struggle to pay bills, and your kids will be able to go to college. 

One other thing to keep in mind: if you’re tempted to wait to get life insurance, know that the cost goes up the older you are. So consider doing it today. Here at the Insurance Center, we write life insurance and are available to answer any questions or concerns you may have. Click here to find the office closest to you.