10 Reasons You Should Buy Life Insurance

10 Reasons You Should Buy Life Insurance


If you have a family that depends on your income, buying life insurance can be one of the smartest things you can do to protect them. Here are 10 reasons why you should buy life insurance—whether you’re single or married, with kids or without, and whatever your age or health status might be. By protecting yourself, you can help ensure your family will be taken care of in the event of your death by knowing that they’ll have enough money to pay off loans, bills, and other expenses.

10 Reasons You Should Buy Life Insurance  If you have a family that depends on your income, buying life insurance can be one of the smartest things you can do to protect them. Here are 10 reasons why you should buy life insurance—whether you’re single or married, with kids or without, and whatever your age or health status might be. By protecting yourself, you can help ensure your family will be taken care of in the event of your death by knowing that they’ll have enough money to pay off loans, bills, and other expenses.  1) To protect your family One of the most common reasons people buy life insurance is to make sure their families are protected. Without your income, your family won’t be able to pay its bills or maintain its lifestyle. A well-chosen policy can help bridge that gap until you’re able to return and resume working—or provide enough money for your children or spouse to attend college, move into a bigger home, or start a business of their own. If they’re unable to find work, it could even provide a lifetime pension so they don’t have to worry about living on a meager Social Security check.  2) To protect your assets While life insurance is mainly intended to pay out in case of your death, it can also provide you with some financial protection while you're alive. If you get into an accident and need some extra time to recover, you might be able to tap into your policy's cash value. The same goes for paying off high-interest debt—if your interest rates are higher than what you can earn on your cash value policy, then it may make sense to pay down those debts and free up more money for other purposes. (Source: Investopedia)  3) For peace of mind Don’t just buy life insurance; buy enough life insurance to cover your family’s needs. It’s an investment in your future, but also peace of mind for your loved ones in case something happens to you. So don’t delay. Get a quote today and get started on protecting your family!  4) To meet a need No matter how much we think we’re prepared for life, it’s never a bad idea to have a little extra help when push comes to shove. That's where life insurance comes in. It’s something you can use to provide financial security for your family and meet any emergency expenses they may face while you’re gone. And don't get hung up on thinking that it's only there if you die — some life insurance policies will pay out if you become sick or are unable to work due to an accident. Here are 10 reasons why anyone should buy life insurance  5) To cover risks you can’t afford to live without Life insurance offers a way to compensate loved ones for financial losses incurred from your death. If you die and leave your family with no means of paying for their expenses, life insurance will take care of those costs. Getting adequate coverage can be tricky—but it’s not impossible. Here are 10 reasons why you should buy life insurance now  6) It’s cheaper than you think Studies have shown that roughly half of families would not be able to replace their income for at least three years if a family member died. The costs associated with losing an income can be huge. Even if you’re in your 20s or 30s, now is a good time to buy life insurance—you can lock in low rates while you’re young and healthy. Don’t forget that it also makes sense to get enough life insurance to pay off all your debts, including mortgages and student loans. If you have dependents, make sure your plan will cover childcare expenses until your child reaches adulthood.  7) To leave a legacy Although death is a fact of life, it’s important to make your loved ones financially secure after you’re gone. In fact, according to Northwestern Mutual's 2017 Planning & Progress Study , 70% of people say that it is very important for them to leave a legacy for their family. If you want your family to continue living comfortably in your absence, purchase a policy that ensures they won’t have financial hardships after you pass away. This will free up your money and enable your children or other family members to invest in their futures and provide for themselves as well as their families.  8) For financial security Death is one of life’s certainties, but it can strike at any time and in any way. Many people mistakenly think that life insurance is a waste of money, but without it you risk financial disaster should your primary breadwinner be unexpectedly taken from you. Here are 10 reasons why you should buy life insurance.  9) Because everyone needs it One of my favorite reasons to buy life insurance is that it just makes sense. The purpose of life insurance is to help protect your family from financial hardship in case you die prematurely. It’s pretty hard to argue with that when you look at it like that. No one wants to think about dying, but no one wants their family left behind in difficult financial circumstances either! A whole lot of people avoid buying life insurance because they think it’s a morbid purchase—but it’s actually incredibly sensible and fiscally responsible. Of course, there are some other good reasons why you should buy life insurance too...here are 10  10) It makes sense! When it comes to life insurance, you want to ensure that your loved ones are financially secure after you're gone. Because life insurance pays out directly to your beneficiaries, there's no risk of them mismanaging your hard-earned savings. Plus, having a life insurance policy can actually help make sure that your loved ones stay financially secure in case something does happen to you. In fact, less than 50% of Americans have even purchased a life insurance policy! To start thinking about purchasing a life insurance policy and providing peace of mind for your family, click here.


1) To protect your family

One of the most common reasons people buy life insurance is to make sure their families are protected. Without your income, your family won’t be able to pay its bills or maintain its lifestyle. A well-chosen policy can help bridge that gap until you’re able to return and resume working—or provide enough money for your children or spouse to attend college, move into a bigger home, or start a business of their own. If they’re unable to find work, it could even provide a lifetime pension so they don’t have to worry about living on a meager Social Security check.


2) To protect your assets

While life insurance is mainly intended to pay out in case of your death, it can also provide you with some financial protection while you're alive. If you get into an accident and need some extra time to recover, you might be able to tap into your policy's cash value. The same goes for paying off high-interest debt—if your interest rates are higher than what you can earn on your cash value policy, then it may make sense to pay down those debts and free up more money for other purposes. (Source: Investopedia)


3) For peace of mind

Don’t just buy life insurance; buy enough life insurance to cover your family’s needs. It’s an investment in your future, but also peace of mind for your loved ones in case something happens to you. So don’t delay. Get a quote today and get started on protecting your family!


4) To meet a need

No matter how much we think we’re prepared for life, it’s never a bad idea to have a little extra help when push comes to shove. That's where life insurance comes in. It’s something you can use to provide financial security for your family and meet any emergency expenses they may face while you’re gone. And don't get hung up on thinking that it's only there if you die — some life insurance policies will pay out if you become sick or are unable to work due to an accident. Here are 10 reasons why anyone should buy life insurance


5) To cover risks you can’t afford to live without

Life insurance offers a way to compensate loved ones for financial losses incurred from your death. If you die and leave your family with no means of paying for their expenses, life insurance will take care of those costs. Getting adequate coverage can be tricky—but it’s not impossible. Here are 10 reasons why you should buy life insurance now


6) It’s cheaper than you think

Studies have shown that roughly half of families would not be able to replace their income for at least three years if a family member died. The costs associated with losing an income can be huge. Even if you’re in your 20s or 30s, now is a good time to buy life insurance—you can lock in low rates while you’re young and healthy. Don’t forget that it also makes sense to get enough life insurance to pay off all your debts, including mortgages and student loans. If you have dependents, make sure your plan will cover childcare expenses until your child reaches adulthood.


7) To leave a legacy

Although death is a fact of life, it’s important to make your loved ones financially secure after you’re gone. In fact, according to Northwestern Mutual's 2017 Planning & Progress Study , 70% of people say that it is very important for them to leave a legacy for their family. If you want your family to continue living comfortably in your absence, purchase a policy that ensures they won’t have financial hardships after you pass away. This will free up your money and enable your children or other family members to invest in their futures and provide for themselves as well as their families.


8) For financial security

Death is one of life’s certainties, but it can strike at any time and in any way. Many people mistakenly think that life insurance is a waste of money, but without it you risk financial disaster should your primary breadwinner be unexpectedly taken from you. Here are 10 reasons why you should buy life insurance.


9) Because everyone needs it

One of my favorite reasons to buy life insurance is that it just makes sense. The purpose of life insurance is to help protect your family from financial hardship in case you die prematurely. It’s pretty hard to argue with that when you look at it like that. No one wants to think about dying, but no one wants their family left behind in difficult financial circumstances either! A whole lot of people avoid buying life insurance because they think it’s a morbid purchase—but it’s actually incredibly sensible and fiscally responsible. Of course, there are some other good reasons why you should buy life insurance too...here are 10


10) It makes sense!

When it comes to life insurance, you want to ensure that your loved ones are financially secure after you're gone. Because life insurance pays out directly to your beneficiaries, there's no risk of them mismanaging your hard-earned savings. Plus, having a life insurance policy can actually help make sure that your loved ones stay financially secure in case something does happen to you. In fact, less than 50% of Americans have even purchased a life insurance policy! To start thinking about purchasing a life insurance policy and providing peace of mind for your family, click here.

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