Why is life insurance worth it?
Life insurance is absolutely essential if there’s someone you care about who would suffer if you and your financial contributions were no longer in the picture. This could include a spouse, children, disabled family members, aging parents or anyone else who depends on your earnings to make ends meet.
There are several different types of life insurance. But what they all have in common is that they pay cash to your loved ones in the event you pass away. This lets your nearest and dearest remain on firm financial ground even though your earnings have stopped.
From the mortgage to child care costs to the weekly grocery haul, you already know that life comes with many expenses. We all do so much to take care of our loved ones in the here and now, but many people don’t consider how those left behind would manage if the unthinkable were to happen.
Over the years, we’ve heard from countless people who were extremely grateful to have a financial lifeline in the form of life insurance. And we’ve sadly also heard from those who didn’t have life insurance to rely on when a breadwinner passed away. Here are just two of their stories.
These kinds of stories underscore just how important life insurance is if anyone depends on you financially. The good news is that there are life insurance policies to fit every situation and budget. And many people are pleasantly surprised to discover that life insurance is far more affordable than they imagined—and to learn that life insurance proceeds are almost never subject to federal income taxes. What’s more, some policies also have a savings component to help you grow your nest egg in addition to protecting the ones you love most.
Getting started is easy. One of the best ways is to work with a financial professional who can walk you through the entire process. If you don’t have one to work with, check out our locator. You can also work directly with an insurance company. Here are company partners that support our non-profit mission and can assist you in getting coverage directly or through one of their financial professionals. The key is to start today.
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