February is a time to reflect on your loved ones, and show them how much you care and appreciate them. Why not show the greatest appreciation of all and buy life insurance for you and your family?! I know what you’re thinking…I am young and healthy so I don’t need it. WRONG! There is no better time to buy life insurance than right now.
Let’s review the top benefits of insuring you and your loved ones this month:
- Financial Security. Life insurance would replace lost income if you or your loved ones would pass away suddenly. Get yourself adequate coverage so that you won’t leave your loved ones helpless when the bills start to pile up.
- Cover Burial Expenses. Life insurance can lift the burden from you and your beneficiaries to pay for a basic funeral service which can run upwards of several thousands of dollars.
- Pay Off Debt. Life insurance allows those you leave behind to take care of any lingering financial responsibilities such as a house mortgage.
- College Planning. You might not have thought that this would be a benefit of life insurance, but the payouts can actually provide a good supplement to your savings. If your child ends up borrowing money to get through school, the insurance proceeds could also help wipe out student loans.
- Build Cash Value. Term life insurance stays in place for a set period of time. But whole life insurance provides permanent coverage that only ends if you cancel coverage and allows you to build up cash value over time. That cash value acts as an extra cushion that you could tap into at any time, especially in the instance of a financial emergency.
- Business Planning. If you own a business, you need life insurance. Bottom line. Life insurance covers your obligations so your hard work doesn’t go to waste. In a partnership? Both of you should have life insurance so if one dies, the other isn’t left with a financial burden.
- Estate Taxes. When someone dies, their heirs often face estate and inheritance taxes on any assets received. Life insurance can help cover these added costs.
- Coverage is Affordable. Term life tends to be less expensive than whole or universal life. The younger and healthier you are, the lower your premiums will be. Thus it is the best time to purchase life insurance while you are YOUNG!
- Peace of Mind. No one knows what the future holds but you and your loved ones can prepare for any event that might happen. This might help you sleep a little better at night knowing you and your loved ones are protected no matter what.
- Your Insurance Agent Can Help. Have questions about life insurance? Talk to your agent and they would be happy to help and provide a quote for you! You already insure your home and auto so isn’t your life worth just as much?!