10 Reasons Why You Should Buy Life Insurance

Here are the top reasons to buy life insurance.10 Reasons Why You Should Buy Life Insurance

While most people understand the importance of having life insurance, few actually have this essential coverage. While it’s easy to avoid securing life insurance coverage when you’re young and healthy, the longer you wait, the more tenuous your position becomes. This is why you shouldn’t wait too long to secure the coverage that you and your loved ones need. Need a little extra incentive? Here are the top reasons why you need to get coverage now rather than later.

  • Replace Your Lost Income

Securing the right life insurance now will ensure that your loved ones will not feel the financial impact of your lost income if you were to suddenly pass away.

  • Cover Your Burial Expenses

Funeral expenses can add up extremely quickly. Luckily, your death benefit can cover the cost of your funeral and burial so your loved ones don’t have to.

  • Pay Off Your Debts

If you were to leave behind debts, your loved ones would be responsible for paying them back. With the right life insurance, you can ensure that all your remaining debts will be covered in the event of your death.

  • Plan for Your Kids’ College Expenses

Tuition is expensive. Luckily, your death benefit could help your children cover their school expenses.

  • Build Cash Value

Whole life policies allow the policyholder to build up cash value the longer they have their policy. Getting a policy now will allow you to start building cash value, which could act as an important financial cushion in the event of an emergency.

  • Diversify Investments

Whole life insurance policies are actually considered a financial investment. Therefore, securing this type of policy can help you diversify your financial portfolio.

  • Business Planning

If you own a business, then your death could send your company into a tailspin. Having life insurance coverage would ensure that your business has enough capital to weather this shaky period.

  • Cover Estate Taxes

If you are subject to an estate tax, then this cost will significantly cut into the assets that your beneficiaries receive upon your death. Luckily, your life insurance benefit can cover the cost of your estate taxes so your loved ones don’t have to.

  • You Can Afford It

Contrary to what you might believe, life insurance is actually quite affordable. In fact, you could secure the coverage that you need for as little as $1/day.

  • Peace of Mind

Finally, having life insurance will allow you to rest easy knowing that you have secured the financial stability of your loved ones no matter what may come your way.

These are some of the reasons why it’s so important to have the right life insurance coverage in place.  Are you looking for assistance with your life insurance needs?  The turn to the experts at ISU-Wissink Insurance.  Contact us to get started today.