The Importance Of Life Insurance

Every September, there is a national campaign that is promoted and designed to educate families about the importance of life insurance and the role it plays in protecting families’ financial security.

When most people mention insurance, they typically think about health insurance, car insurance or home insurance. Although those types of insurances are important, many fail to understand that life insurance should also be at the top of the insurance list.  
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As mentioned, life insurance is important as it can provide protection for your family financially. Take a second the think…if something should happen to you or your spouse, what will happen to your family?  Will your family be prepared for the change that the loss will bring? If you alone are the breadwinner of the family, your weekly or biweekly income will be discontinued. How will that affect the remaining family members in your household? 

Although nothing can take away the pain that is experienced with a loss, having help to lessen the financial blow that is surely to occur can be beneficial. Life insurance is used to provide the financial comfort that your family needs to carry them through the difficult situation. Otherwise, your family could face undue financial burdens even up to financial devastation.

Here are things that life insurance can help your family with, in the event of experiencing a loss:

• Pay off medical bills and/or cover funeral costs
• Provide day-to-day living expenses such as food, clothing, transportation, utility expenses and mortgage/rent payments
• Pay off debts, such as credit cards, student loans, taxes and estate fees
• Secure education funding for children
• Establish emergency funds or leave a financial legacy for the remaining loved ones

  
Having life insurance for your family is the greatest and most unselfish gift you can give. In the event of a loss, life insurance can help provide stability and some sort of normalcy in the household. There is a peace of mind knowing that the remaining family members will be able to continue living the lifestyle that you built and established during your living years.