The thought of purchasing life insurance isn’t always the most pleasant consideration. After all, dealing with the inevitable — the fact that you are going to die one day — isn’t something most people want to think about. But there is some very good logic to doing exactly that right now. Here are five great reasons you should purchase a life insurance policy today.
Take Care of Your Loved Ones
One of the most common and responsible reasons to purchase a life insurance policy is to take care of those you love financially, those you leave behind when you pass away. Whether it be a spouse, a partner, your children or other family members — or really any other person you wish to provide for after your death — a life insurance policy can help cover any of the financial responsibilities that remain after you are gone.
Gregory Drambour, owner of Sedona Sacred Journeys, knows the value of life insurance and recommends it to his clients:
“My mission with all clients is to guide them back to their innate wisdom or educate them and give them confidence that wisdom is always available to them to make big life decisions. First on that list would be to protect your family with life insurance. I have to believe that is always a wise decision.”
It could be a debt that hasn’t been fully paid or simply the day-to-day costs of living. The bottom line is this: in your absence, a financial plan needs to be in place to help your loved ones pick up the pieces, so to speak. It’s going to be difficult enough to go on without you there everyday. Don’t make it any more difficult by not having the finances there to make things easier.
Account for Burial Expenses
Funerals are expensive. And it seems incredibly irresponsible to leave those final expenses to your aforementioned loved ones. So why not account for all the necessary burial expenses with a life insurance policy?
According to Parting.com, a typical funeral costs anywhere between $7,000 and $10,000. That’s a major expense by almost anyone’s standards. This includes the funeral director’s services, a casket, the cost of the grave site and burial in a cemetery, and having a headstone prepared, just to name a few.
Dealing with the loss of a loved one can be an emotionally devastating event. During this time of grieving and sadness, the burial expenses are one area that can easily be planned for and taken care of with a life insurance policy. Don’t leave it up to your loved ones to take care of these costly expenses.
Security for an Unplanned Illness
Nobody plans to get sick, but it happens. If you develop an illness before you purchase life insurance, it might be too late to find an affordable policy, if you can find one at all.
Most people who buy life insurance do so to provide financial security to a beneficiary at the time of their death. But what happens if a chronic, critical, or even a terminal illness strikes? Most people are not prepared for this as these crippling costs are not typically covered by traditional health insurance benefits or a disability plan.
There is a solution for this financial burden, however. Some life insurance policies include an add-on called Living Benefits. If a long-term, catastrophic, or terminal illness should unfortunately occur, the funds can be used before death occurs.
Life insurance with Living Benefits — also known as an Accelerated Death Benefit Rider — can be there to help you when you need it the most.
Buying Life Insurance is Easy
Here’s a great bit of advice about life insurance. Don’t make things more complicated than they have to be. Life insurance might seem like a daunting endeavor if you’ve never purchased a policy before — plus most people don’t want to spend any amount of time thinking about their own death — but it’s actually a very simple process. (And it’s made even easier when you work with any one of the licensed agents at True Blue Life Insurance.)
Let’s get a few things out of the way right off the bat. You are not too young to think about life insurance. In fact, buying a life insurance policy while you’re young can help you get lower guaranteed rates and ensure coverage even if you develop health problems later in life. And if you have health problems, don’t just assume this will prevent you from being able to obtain a policy. Or the opposite — that you have always been healthy so you don’t need one.
Buying Life Insurance is Affordable
If you think you can’t afford life insurance, think again. Most people think life insurance is more expensive than it actually is. In fact, according to an Insurance Barometer Study by the LIMRA and LIFE Foundation, 83 percent of people say they haven’t purchased life insurance because it’s too expensive — yet they overestimate its true cost by nearly three times the actual amount.
For less (sometimes much less) than what it costs to pay for cable or satellite television or a typical month’s cell phone bill, you can have a life insurance policy working for you. Prices differ greatly depending upon a variety of factors like age and health status, but many term policies can be had for a very reasonable price.
For example, let’s say you’re a 40-year-old man in good health and you have never smoked. You’re looking for a 20-year guaranteed level term policy with $250,000 of coverage. How does less than $20 per month sound? If you currently smoke, you are going to see a considerable difference in price, but it’s still very reasonable around $70 per month.
Get your own customized instant quote from the home page of the True Blue Life Insurance website. Just look for the term life instant quote form and see how little it will cost to get a great life insurance policy today. Or pick up the phone and call a licensed True Blue Life Insurance agent at 1-866-816-2100.