Thursday, July 25, 2013

Is Life Insurance Right for everybody?

 Should everybody have life insurance?
Does everybody even need life insurance?
No.  Not everyone has a need or will even benefit from having life insurance?
But for others it is vital that they have it.
I know my reasons for having life insurance.
What about you do you know why life insurance might be important for you and your loved ones?
The number one reason for not having life insurance is procrastination?                                 
Statistics tell us that 93% of Americans think that they need life insurance but only 41% of them actually have it.
Don’t let this be your reason for not having life insurance.
I know what you are thinking.  Having to discuss the need for life insurance means that I have to think about dying one day and well I am just not really comfortable talking about that.
Am I right?
Sorry but no matter how uncomfortable this subject makes you feel it is one that cannot be avoided, and needs to be addressed sooner rather than later.

Here are some of the stages in life when having life insurance is vitally important to ensure the best protection for your loved ones.

Getting married or already married.
Nowadays most families depend on two incomes to run their household.  In the event that one spouse were to die suddenly,  more than likely the spouse who was left would not have enough money to cover funeral costs, debt or any outstanding loans.

About to be a parent or already a parent.
As joyful as being a parent can be, it is also one of the most expensive things.  So you will want to make sure that if you were to die tomorrow, your spouse and children would be taken care of financially in your absence.  Your spouse will still need to pay the bills and your kids will still need to go to college.

A homeowner.
If like most people, your home is one of your biggest financial assets.  Have you thought how your spouse will manage to pay the mortgage without your income if left on their own?

Business owner.
For a business owner life insurance is a must have.  It can prevent a business from financial loss and liabilities.  Quite simply it can be invaluable for maintaining the business that you have worked so hard to build in the event of your death.

Planning for retirement or already retired.
This is when most people think there is no longer any need for them to have life insurance.  Think about what might happen if your spouse outlives you by another 10 to 30 years.  Is it your desire that they live out the rest of their retirement years now with financial burdens.

Once you have established whether or not you fit into any of the above life stages and find that you do have a need for life insurance the next most important step is to determine how much life insurance you actually need.  Not everyone’s financial needs are the same.

Call and schedule a free consultation with me today at 239-288-0977 and I will be happy to help you determine your life insurance needs.

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