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Episode 11- Understanding the Value of Life Insurance.

One investment you will never regret

Understanding the Value of Life Insurance

During this pandemic, a consistent question that has been asked is, why should I consider getting life insurance?

Let’s face it, it is a conversation that no one wants to have,  however, it is a discussion  that needs to happen in every home today, especially when there is so much uncertainly in today world Of course life insurance is a personal choice, however life insurance is often not about you, but about protecting what you hold dear to your heart.

Here are four common reasons why people apply for life insurance:

Funerals are expensive and in today’s dollars depending on the type of service you imagine; it can set you back up to $25,000. Planning for your final expenses is something that must be done, and is your financial responsibility, not your family’s obligation – getting a life insurance to cover funeral expense can bring that financial gap.

You have worked hard for the money you have made, and if you also have a family they have also benefited from your hard work, so protecting them if something happens to you should be the utmost importance – getting life insurance that can cover future expenses such as educational costs or retirement income should be something hat should be strongly considered.

The biggest asset most people own is their home, so protecting it should be imperative. Alife insurance policy opposed to simply mortgage protection gives you the added protection that your property needs. Think about, purchasing mortgage protection shrinks the coverage as the obligation is reduced, whereas life insurance not only is designed to cover the obligation but also remains a constant in value, meaning in the event of your death the life policy will cover the remaining amount left on your mortgage and any residual left on your policy can be paid to your estate.

Leaving a legacy is something that everyone needs to consider and there is not right or wrong answer as to how much or who should be in receipt of it. Perhaps there are a few special people you would like to help or even a charity you firmly believe in, life insurance can provide a financial gift based in your memory

If you are interested in learning more about life insurance, contact Jessica Maiato one of our life sales agent at Freisenbruch Meyer and she can walk you through the process.  Call 294-4618 today!

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