Authored by Rodney Southern in Insurance
Published on 12-21-2008
Life insurance is not like it used to be. At one time, life insurance seemed to only be for the rich people of the world. Few poor individuals could even consider buying life insurance. Those days are far behind, as today there are plenty of life insurance policies for pretty much any budget. Better yet, it is hard to understand why anyone would not have life insurance. Here are six reasons to buy life insurance that you can not overlook:
The number one reason to buy life insurance is to protect your family that is left behind. When you pass away, will your family be able to handle day to day living without your income? Wanting to secure a great life for your family even after you are gone is a fantastic reason to buy life insurance. A policy can do exactly that.
Another reason is that life insurance policies often will cover mortgages and bills. How much easier would it be for your spouse or children if the mortgage were paid off when you pass away? The pressure of losing you is bad enough without trying to figure out how to keep the house.
The simple cost of a funeral and burial costs are reason enough to purchase life insurance. In today’s world, funerals, cremations, and even burials are sky high. It has become big business to die these days, and making sure that you have a life insurance policy to cover these expenses is priceless to those that are left behind.
Many people have life insurance policies simply to improve their credit rating. Holding a strong life insurance policy can help your credit, even if it is to only help to negotiate a better interest rate or loan terms. A growing number of people are knocking out two birds with one stone in this way. Every little thing that you can do to improve credit is very valuable with today’s uncertain economy. Getting a great interest rate on your mortgage is worth thousands to many.
Under most circumstances, life insurance policies are exempt from any bankruptcy proceedings. This is another wonderful benefit to holding a good life insurance policy. If times are tough, it may make very good sense to purchase a life insurance policy. This is one of the features of life insurance policies that you need to ask about when you purchase it. It is not the same with every situation.
The primary and most obvious reason to buy a life insurance policy is to give yourself and your family peace of mind. Knowing that the safety net is there is a wonderful reason to own one. If you have ever experienced a death in the family, then you surely know the stress involved with the details. A life insurance policy can take care of the details.