3 Reasons Why Everyone Should Invest in Life Insurance
At Carol Marshall Insurance, we understand the importance of investing in Life Insurance; we also know that not everyone knows what life insurance covers or the purpose of having it. In 2020 alone, research revealed that only 54% of Americans were covered under a Life Insurance policy. Life insurance provides money, or what is known as a death benefit, to your chosen beneficiary after you die. Choosing to have life insurance can assist your loved one’s finances when the unthinkable happens. Therefore, our team is passionate about educating our community on Life Insurance benefits.
3 Reasons to Invest in Life Insurance include:
1.) It provides financial security to your family.
The purpose of life insurance is to protect your family from the loss of future earnings and supports financial goals in the long term. Unfortunately, we cannot predict what will happen in our lives, it is always better to be protected in the case of an unexpected death of a family member. Having life insurance will greatly benefit your family in a situation like this as it will levitate financial stress.
2.) It can cover funeral expenses.
One huge benefit to investing in a life insurance policy is that it will assist in paying for funeral expenses. Funerals are not cheap and can range anywhere from $7,000- $12,000 including the viewing, burial, service fees, transport, casket, and embalming, A death in the family is already stressful enough, and having to pay a huge out-of-pocket cost will only add to this emotional stress.
3.) It can help your family pay off debts
Life insurance can assist your family in paying off debts after someone has passed. Unfortunately, when we pass certain debts live on such as credit card debt, loans, mortgages, etc. Life insurance will give you and your family peace of mind during this time.
Now that you now know a little more about Life Insurance and the financial benefits it can provide your family, you can make an educated decision if Life Insurance is right for you and your family. If you are interested, our team at Carrol Marshal insurance would love to chat with you about your different policies available.