Everyday living has a lot of expenses that can make you consider insurance just another cost to bear. It may be difficult to see the potential problem of not purchasing life insurance with so many other things to spend on.
The Urgent vs. Important
For most people, the two biggest things that matter in life are their ability to retire and take care of their families. Proper life insurance can be essential to both of these concerns.
What is the Hidden Value in Life Insurance?
Even if it is rare, we are all aware that an unexpected death may happen anytime. Life insurance may prevent the financial catastrophe of the loved ones that are left behind if they are dependent on you for primary care and income.
It is ironic that a lot of people pass on the coverage because of the perceived cost while it is actually far less expensive than what most people think. LIMRA and Life Happens' Insurance Barometer Study last 2016 showed that 8 in 10 people overestimate life insurance costs considerably. For example, a healthy 30-year-old man may buy a 20-year $250,000 term life insurance policy for as low as $13 a month.
While You Are Alive, Enjoy Life Insurance's Benefits
If there you have the money to spare, consider permanent life insurance living benefits that you can use in your lifetime.
Policies in permanent life insurance often have higher premium compared to term life insurance policies at first. However unlike term insurance, they provide permanent protection that may accumulate cash value on a basis that is tax-deferred.
In the future, you can use cash values for any purpose you wish. You can borrow the cash value to pay for your home's down payment, the education of your children or to save money for your retirement.
You use the cash value of your policy as collateral whenever you borrow money from a permanent insurance policy. The borrowing rates have a tendency to be relatively small. Unlike loans from financial institutions, the loan does not depend on credit checks as well as other restrictions. Ultimately though, you do need to repay the loan with interest, or your beneficiaries will get a reduction in the cash surrender value and death benefit.
Life insurance may serve as a great financial cushion for you and your family in your life. It can protect your family starting from the first day.
It may be tempting just to hope that misfortune will skip over you and cross your fingers. However, when you look at the facts it is important to get proper coverage against life's risks. It is also a bargain in disguise.
At Roper Insurance Services we work hard to make sure our clients are well protected with life insurance and other coverage at prices their families can afford. To learn more about how we can help you please contact our agency at 1-877-767-3711 or Click Here to request a free quote.