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5 Reasons Why You Need Life Insurance

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Statistics say that 40 per cent of Americans are without any form of life insurance cover. That scares me, and that’s because even though they know that death of inevitable, they aren’t taking precautionary steps to secure their loved ones before they pass away. I really do believe everyone needs life insurance. Even if the premiums on whole life insurance policies are high, if you look hard enough; you will manage to find the deal that suits your requirements. Let me give you five of my best reasons why you need life insurance:

5 Reasons Why You Need Life Insurance

  1. Everybody Dies

This one is the obvious first point. But you wouldn’t believe how reluctant everyone is to think about the inevitability of death. You don’t think about buying life insurance cover when you’re well. But you should because you never know when the grim reaper will strike. So why postpone securing your loved ones?

  1. You Have Dependents

If you have kids or ageing, ailing parents, you should definitely look at getting a policy. That’s because your family will have a cash reserve if you pass away unexpectedly. Your death will be terrible thing to deal with in itself; you don’t want them to take on the added stress of monetary issues too, do you? Even if you are young, you should look into getting a policy. You don’t want your parents stuck with paying off student loans. Simply put: If you think your family will require money when you’re not around, start hunting for a good cover.

  1. Tax Benefits

The premiums on some policies can be high enough to steer the best of us away from what might be the best decision of our lives. But whole life insurance cover comes with the added benefit of saving on tax dollars.

  1. You do have Options

If the premiums are still too high for you to think about whole life insurance, you can go for its term counterpart that gives you cover for a number of stipulated years. Also, different insurers will give you different rates. It’s best to have your research in place before you’re convinced; Accuquote reviews can help you there.

  1. It’s a Long-term Investment

Don’t think of the short term. In the longer run, a life insurance policy is a great investment. In whole life insurance, for instance, there are dividends that you can use to bring down your premium. Whole life insurance also comes with a guaranteed death benefit which is a lump sum amount of money that will come in handy when the inevitable happens and your family needs to clear off your debts.

So there you have it. These were my five top reasons why you should think about talking to an insurance agent. There’s no point in being lackadaisical about something that is inevitable.