No one wants to think about dying prematurely. But if disaster should come uninvited, the loss will only be worse without the proper life insurance policy. If you're not yet covered, consider these reasons why you should have life insurance.
If People Depend on Your Income
If you’re a parent with young children, life insurance can provide a safety net for them to live off of. Even if you don’t have kids, you may have a spouse or loved ones who would be financially grieved by the income loss after your death. This includes dependent adults, such as parents or siblings, who may rely on your financial support. Life insurance helps protect these people by providing them with extra financial help.
To Pay Costs of Death
Life insurance can cover funeral and burial costs, debts and other medical expenses not covered by health insurance. This comes at a relief to grief-stricken dependents that may not have the financial means to cover the expenses.
To Pay Off Debts
Not only can life insurance provide extra income to cover living expenses, it can also cover debts like the mortgage. This protects your family from the need to sell the house on account of a loss of income.
To Accumulate Cash
Some life insurance policies include both a death benefit as well as cash value accumulation. These cash value reserves can be borrowed or withdrawn when needed. If you were to ever lose your job or be unable to pay your insurance premiums, you can use your cash value savings to pay the premiums instead.
Life insurance gives you and your family the peace of mind that comes with being protected from the unknown. Ask your independent insurance agent about coverage options today.
Is your family covered? Call Dealey, Renton & Associates at (626) 696-1897 for more information on Oakland life insurance.