Why You Need Life Insurance Coverage

Why You Need Life Insurance Coverage
Ever hear someone say that life insurance is “a luxury I just can’t afford?” In reality, most families suffer financially and may struggle for years because the breadwinner, who had no life insurance coverage, is suddenly gone.
There are many good reasons to say that most people would do well to have a term or whole life policy in place as early as possible in life – here are the top 5 reasons why you need to be covered:

1. Because Life Is Uncertain
No matter how healthy you may be at the moment, there are no guarantees. Health can flee in a moment in the event of an unforeseen accident or a sudden illness.

It makes sense to choose your ideal life insurance policy now while younger and healthier to lock in a good rate rather than waiting until your options become more limited.

2. Because Your Family Is Counting On You
All too often, the loved ones of those who pass away are left unable to comfortably support themselves. A lowered standard of living becomes necessary in order to survive.

Life insurance can prevent that from happening. Social Security and other retirement income sources may not be enough to NOT lose the family home, ensure the kids go through college, or make sure the business you worked to build doesn’t go under – regardless of the timing of when you pass away.

3. Because You Need The Peace Of Mind
Instead of worrying about what would happen if, if, if – far better to be proactive and take adequate precautions well ahead of time.

One of the biggest benefits of life insurance is that it is in effect immediately and protects you every moment of the life of the policy. Regardless of the ups and downs of your month-to-month and year-to-year income stream, you know that a specific death benefit would go to your beneficiary if you were suddenly gone.

4. Because You Can Customize Your Policy
Another reason to get a life policy is the fact that you can find or customize one that is just right for your current needs and budget.

Term life, whole life, and universal life are the main options. But you can vary the length of the term, the coverage level, and other policy conditions until you find a strategy that maximizes your most important protections.

Term life, for example, is great if you want coverage until your mortgage is paid off, until you retire, or until some other defined point. Whole life ensures a benefit regardless of when you pass away. Also, note that you can start off with term life and then upgrade to whole life later – or otherwise adjust your existing policy, if/when your situation changes.

5. Because Life Insurance Is Affordable!
Finally, the great variety of policy-types available means that everyone can find a policy that is affordable to them.

Some life insurance is better than none, and you can always increase coverage later on if your income increases – so don’t be afraid to start now with whatever you can afford.

For assistance in customizing a life insurance policy that meets your needs and fits your budget, do not hesitate to talk to the insurance experts at Flagler County Insurance Agency today! We can help you protect your loved ones from financial hardship in the event of your untimely demise, and make it affordable.