4 Reasons You Need Life Insurance

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Insurance 101: Tips and Tricks to Choosing the Right Policy

Since my parents always added me to their auto insurance policy when I was a teenager, I never learned how to make educated insurance policy decisions. When I moved out of my parents house at the age of 25 and it was time to get my own policy, I was overwhelmed with all of the decisions I had to make. Thankfully, my parents were eager to teach me what each insurance coverage option meant and what the best choices were for me. I learned a lot about insurance during this experience, and I am eager to share what I learned with others on my new blog. I also plan to include many tips on choosing health and homeowners insurance policies, so check back often if you want to learn a little more about insurance!


4 Reasons You Need Life Insurance

9 November 2017
 Categories: Insurance, Blog

Oftentimes, people avoid signing up for life insurance because they don't want to think about their own mortality. Unfortunately, avoiding the topic of life insurance because it makes you uncomfortable means that if you unexpectedly pass away your family will suffer financially much more than they need to. Discussing, researching, and signing up for life insurance in a straightforward way can eliminate the discomfort and actually improve your peace of mind. Here are four reasons you need life insurance:

Life Insurance Will Pay for Your Funeral Expenses

If you die unexpectedly, your grieving family will have to come up with money for your funeral, adding additional stress to their mourning. With the average funeral costing several thousand dollars, it will give you and your family peace of mind to know that this expense can easily be paid out of your life insurance.

Life Insurance Can Ensure an Inheritance

Even if you earn a modest income and don't have a lot of accumulated wealth to leave your loved ones, a life insurance policy can ensure your loved ones receive an inheritance. Depending on how large of an insurance policy you have and who you designate as the beneficiaries, this can mean your kids or grandchildren have their college educations paid for, or your spouse can pay off your house and no longer have to worry about a mortgage.

If you would like your life insurance money allocated in specific ways, it is a good idea to set up a will with an estate attorney that goes along with your life insurance.

Life Insurance Can Pay Off Your Debts

Not all debts are eliminated by death, and in some cases your spouse or other family members may be on the hook for medical bills or loans. This will prevent your family from experiencing financial hardship and unmanageable debt in the unlikely event that you pass away.

Life Insurance Provides Time to Grieve

Knowing that they have life insurance money to fall back on can help your family by giving them breathing room to grieve. Instead of needing to immediately return to work, for example, your spouse would be able to afford to take months of to seek grief counseling and get the household affairs in order.

The best place to start is to call for free insurance quotes, such as from Woodmansee Insurance Inc. You may also want to work with a dedicated life insurance agent to go over all of your options.