Knock Knock -- who's there? It's me your age -- and it's about time you thought about Life Insurance!
I felt it this morning – yes I felt my age! It reminds me often that I am no longer 21 years old!
Don't fret about your age; chances are you like me have more than half a century to have fun and live life to the fullest. Better yet, the Social Security Administration says 25% of us will live beyond the age of 90! That brings us to talking about the excellent reasons to get life insurance now.
If you have another 50-plus years ahead of you, why is life insurance a concern? Despite the odds being in your favor, there are some real risks to contemplate. Approximately 10,000 people a year from car accidents. Another 25,000 die of coronary heart disease and 11,000 die of liver disease. Hypertension-related health problems kill over 8,000 men and women in the same age group.
MORBID I know!
The simple fact is that as we age, our health declines. We all know that!
The point here isn't to scare you, but to raise awareness of the fact that while life insurance isn't the most glamorous subject ever, it is one of the most important topics you'll face for the loved ones in your life.
What is life insurance?Life insurance provides financial security for your family at the time of your death. It will cover funeral expenses and outstanding debts and replace your salary so you can continue to provide for your family even after you are gone. In some cases, life insurance will also cover your long-term care before you pass away – the dreaded nursing home monster that takes all your hard-earned assets!
Of course, anytime is a good time to get life insurance, but there are some especially good reasons to get life insurance as soon as possible after you turn 30.
Some common sense reasons to get life insurance now!
Provide financial security for your spouse, partner, and dependents
One of the most common reasons to get life insurance is to provide for the financial security of your spouse, partner, or children in the event of your unexpected death. Your life insurance payout will help them cover regular living expenses such as utilities, groceries, and education for years to come.
Cover living expenses for your dependents
Whether it's for daycare, school field trips, or medical expenses, your spouse, partner, or children's guardian will appreciate the financial help you leave behind. The cost of clothes and shoes for growing boys and girls adds up. As teens, your kids will pack away a week's worth of groceries in about three hours.
Pay off your debt so others don't have to
Another one of the most common reasons to get life insurance to cover your mortgage, car payments, and other substantial debts. If you and your partner rely on two incomes, or especially if you rely solely on your income to pay a home or car loan, life insurance will prove essential in ensuring your partner can continue to cover those bills.
Stay-at-home parents are breadwinners, too
When there is no paycheck or W-2 form, it's easy to overlook the financial security a stay-at-home parent brings to the family. A stay-at-home mom or dad is also a cook, housekeeper, taxi service, and so much more.
Save your money
Under normal circumstances, the younger you are when you buy life insurance, the less expensive it is. The longer you wait, the greater the premiums will be. The average cable bill is a lot higher than a life insurance premium.
You may need emergency funds
Some life insurance policies can double as emergency funds. If you find yourself in financial straits, you can borrow from the cash value of your policy. While this lowers the benefits available if something happens to you, it is a short-term solution if you need it.
Take time to research the right life insurance for you. When the day comes, the people you care about will be grateful for your care in planning for their future.
Speaking of planning ahead (for the much distant future, we hope), no one wants to leave their family with financial stress and the burden of debt and funeral expenses.
NO one and I mean NO one wants to talk about this subject however having it will make you sleep easier at night!
Call the Herrholtz Insurance Agency for your free, fast and quick life insurance quote! Done over the phone in less than 10 minutes! 440-527-0304!