5 Reasons You Need Life Insurance
You’ve worked hard for the life you have, and you’ve worked especially hard for the life you provided your loved ones. The good news is, you never have to risk losing it all — life insurance backs up all that you’ve done to continue your legacy for your family and beyond. Here are five reasons you should never be without it:
1. It Protects Your Family
Life insurance is a must if your family depends on you for financial support. It is particularly important for parents of young children as it will not only replace your income, but it can cover costs for routine things such as mortgage, child care, bills, and other household necessities.
2. Funerals Can Be Costly
The average funeral costs between $7,000 to $10,000 – and that’s just the bare bones estimate of services and burial. Depending on the type of funeral, the actual cost could be much more. Life insurance can cover these costs without putting an additional financial or emotional burden on your family.
3. Your Dependents Will Be Debt Free
If you are no longer here, your loved ones already face the emotional toll of your absence. The prospect of facing debt in addition to that loss can be a tremendous burden if there is no life insurance to protect them.
4. It Can Also Protect Your Business
If you own a business, life insurance is invaluable as it not only protects you as an individual, but also protects your business from financial loss in the event of the death of a partner or owner. It can provide cash in the short term and keep things afloat, guarding against uncertainty and liability.
5. It Can Bolster Your Credit
Because it is considered a financial asset, life insurance can positively affect both your credit rating and ability to obtain a loan or health insurance. Some policies can even carry a cash value which cannot be touched by creditors, even in the event of bankruptcy.
To find out more about what life insurance policy can best suit your needs, call the friendly professionals at Huntingdon Insurance Group at 215-942-0616 or email them at email@example.com