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Live a purposeful life
Let’s be honest: life insurance is a topic that most people would rather put off for another day (or even another year). But, at its core, life insurance is there to help protect the people and causes that you care about most in the event of your passing. For that reason, it’s best to think about obtaining it before you actually need it.
Plan for the unexpected
Ask yourself this important question: if you passed away tomorrow, would your loved ones be financially protected? Most people would likely answer “no.”
Life insurance can act as a security measure for your loved ones should you pass away unexpectedly. It can help to cover your funeral costs and medical bills, monthly bills, and outstanding debt such as student loans or credit card bills. Life insurance can also help to provide ready money for your spouse while he or she is job-hunting. Or, if you’re a stay-at-home parent, the benefit amount can help to offset the cost of childcare.
In life, there will always be rainy days. We may not be able to prevent the storm from coming, but we can certainly prepare for it.
Protect your loved ones with life insurance
If you’re young and healthy, you may think: why do I need life insurance? However, the people who buy life insurance don’t do it to protect themselves. They do it to protect the people they care about most. It’s a way to financially protect those who depend on your paycheck, such as an infant or child.
It is increasingly expensive for a middle-income family to raise a child. The life insurance coverage you buy today could help to cover your child’s financial expenses tomorrow, whether it’s diapers or a diploma.
Not a parent or grandparent? You may still need life insurance. The coverage amount can also be used to help your spouse or significant other stay afloat, covering the rent or mortgage payment for the home you shared together. When it comes to coverage, it’s important to make sure you have enough.
Leave a legacy
Living a life that puts others first is one way to define your own legacy. Life insurance is about protecting the people and causes you care about most, even if you’re no longer here to do so. That’s what makes it a truly selfless act. By naming a child or grandchild as the beneficiary on your life insurance policy, the benefit amount (monetary value of your policy) could act as an inheritance that could help pay for college, a down payment on a future home, or a start-up business. If you name a nonprofit as your beneficiary, such as an animal shelter, it could help fund food and shelter long after you have passed.
It starts by planning for tomorrow today
ASBA’s life insurance agents are here to help guide you through the life insurance buying experience. Our life agents can help with everything from determining the right coverage and policy type for your financial situation to guiding your family through the claims process.
CONTACT US today for more information.