Celebrate National Insurance Awareness Day by looking over your existing life insurance coverage and making sure it’s a good fit for you and your family. The right coverage should be customized to your needs. Your needs can change whenever big life events occur – a new baby, college or retirement are just some factors to consider. If you don’t have life insurance, here are some reasons you should:
Life Insurance Can Give You Financial Protection
Having a good insurance policy in place can give you financial protection and will help lessen your family’s burden, stress and pain, should tragedy strike. You never know what will happen in your life, so make sure you plan for all possibilities.
Life Insurance Can Be Affordable
Pricing for life insurance varies widely based on the coverage you select, where you live and your insurer. If you’re thinking you can’t afford it, you may be surprised. Depending on your type of policy, life insurance can be fairly cheap.
Life Insurance is Important
Life insurance replaces your income when you pass away. If your family depends on you for financial support, then life insurance is essential. Life insurance also can provide a way for your family to cover any outstanding debts on credit cards, car loans or a mortgage. Funeral and burial costs can also be expensive. Your coverage can help ease their financial and emotional burden. If you are a stay-at-home mom or dad, a life insurance policy can cover the costs of hiring someone to do the day-to-day household tasks as well, such as cleaning, cooking and childcare.
You can also create an inheritance by buying a life insurance policy and naming your heirs as beneficiaries. This can help set your kids’ financial future.
Having good life insurance can ensure your family is taken care of should something happen to you. Money can’t replace a person, but it’s important that you take the time to make sure you are properly covered if something happens.