Do you or someone you know, need life insurance?
Everyone has an opinion about life insurance, but there are five basic reasons why everyone should have life insurance. Excellent options for investing in life insurance exist, and the many reasons you should have life insurance make a huge difference in the kind of life insurance you’ll want to purchase. The ultimate life insurance choice is yours, but I’m willing to recommend a few options that will make a whole lot of sense if you’re of an age where you have dependents, assets, or valued people in your life. You may want to consider life insurance for one of these reasons, and I’m going to share them with you right now:
1 – Final Expenses
It’s expensive to put someone in a pine box and scorch their hide or bury it in a cemetery. Either way, you’ve got end of life costs and final expenses. Your family shouldn’t have to come up with a way to pay those bills, you should have that figured out a long time before you croak. After all, this is your final demise we’re speaking of – even tongue in cheek – and you don’t want someone else making those decisions for you.
2 – Costs of Final Hours
Be it medical or some other form of care, those final hours may need some cash on hand. If your family knows they can have cash on hand to reimburse their expenses, they may be more willing to lay out some cold hard cash. It isn’t about how much they love you, or don’t love you, the ultimate reality may be that they have family to care for themselves, and donating their last few dollars to care for someone who isn’t going to last long, no matter how much they love you, may be an undue struggle. They may know they’ll need it back. Provide that assurance.
3 – Savings and Security
You know who needs you to be alive, and how much it will cost that person to replace you if you don’t take care of yourself. There will be some who are fully capable of taking care of themselves, and others who really NEED you to make provisions for them. Know the difference. Do your job. And yes, my friends you do need to leave assets to someone… So how about making that decision, before someone else has to make it for you?
4 – Living Expenses and Debt
You’ve probably incurred a bit of debt over the years, and you know how much you’ll need to cover all your own discretionary costs. Know the costs and know you’re covered. It’s important. Your children really should not be forced to deal with debtors, or selling family heirlooms to cover your bills. Be sure you leave enough to pay the bills.
5 – Family Provision
This is a big one… Be sure you cover for the costs your family will need help with over the years after you’re gone. If you have children still at home, you already know how important it is to provide for them. But if they’re grown and in their own homes and still occasionally need to borrow from dear ole dad or mom. We didn’t exactly do our jobs by this generation of young adults, we’d better do in now and provide for them as our lives are valued by what we leave behind.
Don’t leave your family hanging. Make provisions. Get a life insurance they can depend on providing for their needs. It really is important.