This is a sponsored post with Responsival. All opinions are my own.
Look, life is expensive enough as it is.
People generally have tons of bills to pay each month. So tacking on another, like life insurance, can be a debate. Is it truly necessary?
Yes. The good news is, you can get instant life insurance if you need it quickly.
Here are reasons why life insurance is important:
1. It can help your family pay the expenses after you die.
Have bills? Need to pay off the house? Life insurance can certainly help with that. Otherwise the home you've had for years might not be affordable anymore and it could be painful to have to give it up.
2. Funerals are expensive. I read that the average cost of a funeral can be $8000.
Life insurance can help cover those as well.
3. Life Insurance is there if your family member runs a business and it needs to keep going.
After a death, everything is put on pause for a bit, but life insurance payouts can ensure a business continues to thrive.
4. Families need money to replace lost income.
Think about it: if the person who brings in the money dies, then what? If there's no savings, it can be a world of stress. With life insurance, money will still be there.
There are different types of life insurance as well: term, permanent, variable, universal, final, & whole life. I suggest doing research and figuring out what will work best for your family. Some require medical exams, others do not. As I mentioned, there is instant life insurance available if something is required with a shorter wait.
The good news is, life insurance is affordable. The average cost is $26 a month. This is basically the cost of two large iced coffees these days. The cost depends on age and health, so the sooner you can get it, the better. A lot of other factors go into it as well. For example, do you smoke? Are you a reckless driver? Do you have a high risk job? Shop around and figure out what company works the best. Read reviews as well to be sure the company doesn't make things unnecessarily difficult.
So do you have life insurance?
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Life insurance is so important and I'm not just saying that because I used to work in the industry. Great article!
ReplyDeleteWe've always had life insurance until we transferred to funds (mutual funds, etfs, and others). We do not have the option to withdrew instantly before, so this instant life insurance is a better option!
ReplyDeleteWow to the cost of a funeral. No wonder so many people are choosing to cremate there loved ones.
ReplyDeleteI agree about how important it is as well. It can be so helpful in many situations. It's crazy how expensive it costs for funerals. That's crazy!
ReplyDeleteWe both have life insurance. So important to be prepared for the worst!
ReplyDeleteI can’t get a normal life insurance policy bc of my health issues. I do have an accidental death policy just in case I’m in an accident of some sort.
ReplyDeleteIt is definitely that time in life we should be more prepared than ever for the unforeseen. It is good to have this safety net, even though it might be something we don't want to think about.
ReplyDeleteI realize the importance of life insurance when my mom passed away. It's a must and we should get it as soon as we could since the premiums go up as we age.
ReplyDeleteGreat points! Life insurance might feel like an extra expense, but it's vital for securing your family's future.
ReplyDeletelife insurance certainly is a very important policy to have, and helps the family so much..
ReplyDeleteI have life insurance through my place of employment. I do agree that it is so important to have it as well.
ReplyDeleteInsurance is very important for everyone. Read poetry at crystal popetry
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