Most people wouldn’t even consider NOT putting insurance on their new home or car. You want those items repaired or replaced if they are damaged. We receive requests on a daily basis to insure cars, homes, and recreational vehicles. But the calls we receive to purchase life insurance are less common. Why is that? Life insurance protects the people in your life, which I believe most people would agree is more important than their home or car. I understand a person cannot be replaced and thinking about your own mortality is not necessarily pleasant, but it is necessary. Loss of a life is difficult no matter how you look at it, however, from a financial perspective; life insurance can help ease the burden.
I don’t even want to think about losing my husband and the emotional suffering that my family would endure. Financially, he is the higher income earner in our home, but he has life insurance. This would cover his final expenses, pay our mortgage and any outstanding debts, and provide an income stream for future years. Everyone in our family has life insurance, including my 4 year old daughter. Why? The younger you are when you purchase, the more affordable it is. In addition, children are often in better health. Insuring them at a younger age guarantees their insurability, regardless of any changes in health condition, as long as the policy continues to be paid. These are just some of the reasons that I purchase life insurance for my family, and I hope that you’ll consider it for your family too.