Why Do I Need Life Insurance?

lifeinsMany people ask themselves why life insurance might be right for them. The answer is very simple, if you die, you want to know that your family is still protected financially.

It’s hard to think about, but life insurance can help cover a variety of expenses if something unexpected were to happen. The proceeds from life insurance will pay funeral costs, bills and ongoing expenses, outstanding debt, the future education for your children, and protect a spouse’s retirement plan.

So, how do you know if you need life insurance?

  • If you are married or engaged to be married. If you and your spouse depend on each other, you want to make sure the other is protected if something were to happen.
  • If you are a parent or about to have a child. Raising a child can be expensive; life insurance will help provide for your child if you were to pass away unexpectedly.
  • If you own a home. Life insurance can help pay an outstanding mortgage.
  • Life insurance is a good idea if you are changing jobs or recently got promoted. Updating your life insurance when your income rises is a good idea because spending tends to rise also.
  • Even if you are retired or planning on retirement, life insurance is a good option for you. It will insure that your spouse will be able to continue living their current lifestyle.
  • If you are single and provide financial assistance to aging parents or siblings, you may want to consider a life insurance policy.

If you fit into any of the above categories then life insurance might be a good option for you. Community Insurance will be able to find you the right life insurance policy and set you up with the appropriate amount of coverage. Give us a call today and we can answer any questions you may have concerning life insurance.

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