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Why You Need Life Insurance

Written by Chris

Are you diabetic and don’t have life insurance?[break]
I would ask you to think about this one crucial question which you should be asking.
How is my family going to survive if they don’t have the benefit of my financial contribution after I’m gone?[break]
Reason 1 – Your Family
The most important reason to get life insurance is to protect your family.   If you die prematurely they are going to still be burdened with all the bills that still have to be paid.
Life insurance is the smartest way to go to make sure that doesn’t happen.
You have to remember that after you’re gone, life can be fairly nasty if your loved ones don’t have a financial fall-back to keep the home fires burning.
No matter what happens, you’ll always have that piece of mind knowing they’ll be taken care of and financially secure.[break]
Life Insurance is Non Taxable
Did you know that?
If you have life insurance and your family collects on death benefits from a life insurance policy, it’s all tax free and they won’t owe the government a single cent.  It’s theirs to do with as they please, and to do what they need to do to live comfortably.
What about your Retirement?
If you’re younger, then now is the best time to start planning your retirement.  Did you know that some life insurance policies like permanent life insurance not only pay death benefits, they have the extra advantage of a cash accumulation plan that’s payable when you reach the end of your policy.
Not only that, but you can borrow against it if you run short of cash and find yourself strapped.[break]
What about Life Insurance Instead of Mortgage Insurance?
If you buy a home or are thinking about buying a home, the bank is going to insist you have mortgage home insurance to make sure the mortgage can be paid off in the event of your death.
Banks will happily sell you mortgage insurance.  What they don’t tell you is that you can get the same type of coverage with a term life insurance policy and that it’s a lot cheaper than what they’re going to charge you.
Many mortgages are for 20 or more years.  If you can save $20 – $40 a month on a policy, just ask yourself how much you could save over 20 plus years.
Whose pocket would you rather see that savings going to – yours or the banks?[break]
If you Own a Business – You Need Life Insurance
What if you own your own business, or are partners with someone?  What’s going to happen to the business estate, and whose going to pay the estate taxes if should have an accident?
Whose going to look after all your financial obligations to your suppliers, customers, and unfinished contracts?
How is your family going to deal with this mess, let alone find the cash to keep going while making all the regular expenses?[break]
Life Insurance Can be Very Cheap
Maybe you haven’t bought life insurance because you thought because you had dibetes that you couldn’t afford it.  Not true!
Life insurance isn’t as near expensive as you think.  There are lots of companies that are selling insurance and that means there’s lots of competition.  This means there are some good bargains if you know where to look.
Maybe you don’t – but I do!
Did you know that the premium for term life insurance is cheapest when you’re younger?  It gets more expensive the older you get.  This is something you should think about.
You won’t be young forever.  Some time in the future you will want to make sure that your family is taken care of and you don’t want to leave them in a financial mess.
Do you need life insurance?
What are your loved ones going to do without it?

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