If no one is counting on your paycheck, then you might be among the very select few that don’t need life insurance. However, if your death would hurt those you love financially, you need to get in touch with an insurer about getting a life insurance policy to protect the people you love the most.
For example, if you’re single, have no dependents, no children, and will leave this world debt-free, then you’re better off saving towards your retirement and saving for emergencies. However, if you have any of the above, read on below for a few reasons that you should be checking out premiums on life insurance to see what your best possible choices might be.
1. You’re married.
Ask yourself this question: if you died today, would your significant other be able to manage, pay the bills, and handle your end-of-life expenses by themselves? If your answer to that question is no, you need to contact an insurer, and make an appointment to discuss your life insurance option, whether it’s term life insurance or permanent life insurance. The difference between these life insurance options is something your insurer can talk to you about during your meeting.
However, first, you should do your research and find a site to compare life insurance quotes between the different insurance companies you’re considering. Comparison sites make it possible for you to compare life insurance quotes on any life insurance policy in one place so that you don’t have to search the internet far and wide to find the monthly payments and best premiums for you.
2. You have unpaid debts.
The last thing anyone wants is to leave their family struggling to cover debts that they incurred. For example, if you have asthma and have not paid your bill to the pulmonologist in full, have been to the emergency room or in the hospital with asthma attacks, or have been diagnosed with lung disease and then you pass before the huge hospital bills are paid, your family will be in trouble. If you have no life insurance, then your family is going to be stuck paying that bill and any other debts you’ve incurred.
Also, if you’ve recently been diagnosed with lung disease or asthma and are searching for a reputable pulmonologist, go onto your computer, then type in the words “pulmonologists near me,” and you should be able to find a list of doctors you can make an appointment with.
3. You have a child.
If you ever need a solid reason to take out a life insurance policy, having a child is a good one. If your children are young and you unexpectedly pass away, your beneficiary can use the money to take care of your children or to pay for college, or even put the money up until they’re old enough to have it themselves. You can also put the money in trust and have it be sent to the beneficiary monthly to take care of the children. The kids would get the rest of the money when they reach the age set forth by you when you think they would be old enough to handle it.
4. You have a large estate.
If you have a large estate to leave behind and be split among your family members, then having a life insurance policy will help them to pay the taxes on the estate. It will also cover any legal fees that come when getting through probate and then dividing the estate up equally.
5. You own a business.
Life insurance can also protect your family and your business if you should die suddenly. Your family could use the money to pay off the business or your business loans themselves.
These are just a few of the reasons that you need to purchase life insurance as soon as possible. None of us are guaranteed tomorrow, so don’t put off what needs to be done today.
