Here’s why you need life insurance: 1. Cover Final Expenses The rising cost of final expenses alone is enough to entice people of all ages to purchase life insurance coverage. Ask yourself who will be left to foot the bill for your final expenses should you unexpectedly pass tomorrow. If you’re uncomfortable with the answer, or you feel it would leave a loved one in a financial pinch, now is the time to buy life insurance coverage. The same is true for you personally, and your clients. No matter what your age, tomorrow is not guaranteed. Having life insurance in place to cover final expenses is essential. 2. Cover Debts No matter your clients’ stage in life, they likely carry unsettled debt. From student loans to credit cards to mortgages, most of us have responsibilities that will impact us for years. Life insurance benefits can be used to settle outstanding debts at the time of death, freeing loved ones from financial burden. 3. Income Replacement If a family depends on income to live on a daily basis, they will face financial hardships if your clients are no longer able to provide. A life insurance benefit can provide supplemental income, enabling a family to continue pursuing their dreams. Without it, often the dreams die with the breadwinner. My car is ready for a new timing belt. I normally take the chance on these kinds of things and stretch it out a bit but my friend pointed out to me, “If you lose the bet, you lose your engine.” That reminded me of life insurance…one can take the chance, but if we lose the bet the risk is just too high compared to the cost to mitigate that risk. 4. Wealth Transfer Passing wealth from one generation to another is a goal for many people. Leaving a life insurance benefit is the most efficient way to leverage today’s dollars to ensure younger generations will enjoy access to quality education and other opportunities. 5. Secure Affordable Premiums Finally, it’s important to keep in mind that the cost of life insurance only increases as you grow older. By locking in coverage today, you and your clients can secure lower premiums than if you purchase a year from now. Now is the time.
Posted on: Wed, 03 Sep 2014 20:52:53 +0000
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