Help protect your family’s future. Enter your zip code to get your free quote today!

Get Your Free Quote

Is Life Insurance Important?

If you have family members who depend on you financially, you should consider purchasing a life insurance policy. A life insurance policy can ensure that your loved ones maintain a financial safety net in the event of your death. Here are nine reasons why purchasing a life insurance policy is important.

Nine Reasons to Buy a Life Insurance Policy

Having adequate life insurance coverage is essential to ensuring your loved ones do not face financial catastrophe in the event of your death. You should consider purchasing a life insurance policy if any of the following apply to you:

  1. You have a spouse
  2. You have children who depend on your income
  3. You have family members, including parents, who depend on your income
  4. You hold a significant amount of consumer debt
  5. You’re actively investing in your children’s future education
  6. You’re a homeowner and/or you’ve renovated your home
  7. You built a business, or you’re expanding your business
  8. You’re looking to add diversity to your investment portfolio
  9. You are in the process of planning your estate

Comparing Life Insurance Options

What kind of life insurance policy should you purchase?

  • Term life insurance is typically more affordable than permanent life insurance. You can buy coverage for specified periods of time, or "terms" that typically last between 5 and 30 years.
  • Permanent life insurance is in place from the moment you buy them to the end of your life. There are a few different types of permanent life insurance plans, and their premiums tend to be more expensive than the premiums for term life insurance policies.

Determining the importance of life insurance and the type of policy you should buy doesn't have to be difficult. Connect with a licensed insurance agent at 800-966-7169 to explore your options, get a free quote and buy the policy that's right for you and your loved ones.

*Applications for insurance may be subject to acceptance by insurer. Rates and coverage amounts will depend upon the carrier selected.

----------
Sources:

Forbes: www.forbes.com/sites/timmaurer/2016/01/05/10-things-you-absolutely-need-to-know-about-life-insurance

Help protect your family’s future. Enter your zip code to get your free quote today!

Get Your Free Quote

Related Information

A Benefits Guide to the Meaning and Importance of Life Insurance

The importance of a life insurance policy is that it helps provide for the financial stability of your beneficiaries if you pass away.

Read More

Life Insurance: the Most Important Questions to Ask

By answering these important questions, you can ensure you are buying a life insurance policy that makes sense for you.

Read More

5 Reasons You Should Purchase Life Insurance

If anyone depends on you financially, life insurance shouldn't be an afterthought. Here are 5 reasons you should consider purchasing life insurance.

Read More

Why Do I Need to Have Life Insurance?

Find out why it is important for you to have life insurance with these 7 simple reasons. Help protect your family from financial instability after you're gone.

Read More

Buying Insurance | What's Most Important?

For most people, the most important types of insurance to have include automobile, health, life, disability and homeowner's insurance.

Read More

Why Life Insurance Matters

Life insurance protects your loved ones from financial hardship if you die unexpectedly.

Read More

What is a Life Insurance Policy? Benefits and Basics

Life insurance helps ensure your loved ones and dependents are financially secure if you pass away.

Read More

Can I Get Term Life Insurance for My Children?

Term life insurance for children provides death benefits if your children die while the policy is active. Learn more about how these policies work.

Read More

Reasons to Buy Life Insurance on Your Parents

It's possible to buy a life insurance policy on your parents. There are actually a few good reasons for doing so.

Read More