Why Do You Need Life Insurance?
If someone depends on you financially, you need life insurance. Life insurance is important as it protects your family financially when you are not able to do so. When you die your income stops but your family’s monthly bills and expenses will not stop. A life insurance payment will not only cover these monthly expenses but will also help to pay out your mortgage balance, funeral expenses and other debts and loans you will leave behind. Life insurance is a must if:
When Do You Need Life Insurance?
You need life insurance if in case of your untimely death your family can’t:
Life Insurance can also help:
When You Should Buy Life Insurance?
The right time to buy life insurance depends on your family and financial circumstances which varies from person to person. When it comes to buying life insurance the best time is when you need it the least i.e. when you are young and healthy. Sooner you buy, the better, as it will become expensive with each passing year. You pay lower premiums when you buy young because you are healthy; as you get older, life insurance becomes more expensive due to old age and any health issues developed. You should keep reviewing your life insurance needs at each stage of life as life changes quickly and so should your life insurance.
Life Stages That Trigger the Need for Life Insurance: