19 Feb What If You Weren’t in the Picture?
If you were not in the picture, how will they manage financially? If you have loved ones that depend on you financially you need to ask yourself this very important question.
Life insurance is one of those things no one really wants to think about and yet it’s one of the most important purchases you can make. Just knowing that your life insurance would assist with the following expenses can give you peace of mind.
• Pay for funeral expenses
• Assist in paying bills
• Pay outstanding debt including credit card and mortgage
• Provide finances for children’s education
• Protect your spouse’s retirement plan
• Assist in continuing a family owned business
You can purchase life insurance at any time in your life but here are a few specific life events that might trigger your need.
When you are first married, most likely, both of you have an income. If something were to happen to one of you, would you be able to continue paying your monthly bills as well as student loans, credit cards and funeral costs? Life insurance would help with all of these needs.
Having a Baby
Raising a child is an exciting, rewarding time of your life. However, it is the most expensive time too. Could your family do all the things you’ve dreamed of if you aren’t there to provide for them? From crib to college and everything in between expenses add up quickly. If you are a single parent you especially need life insurance because your child relies on you for everything.
Purchasing a Home
Your home is most likely your largest asset that needs protection. You wouldn’t want your family to have to make other living arrangements upon your death as the result of poor financial planning. Life insurance will assist your loved one with paying down or paying off the mortgage completely. Now you can be rest assured they can continue to maintain the lifestyle they are accustomed to.
Planning to Retire
Many people who are planning on retiring believe that their time for purchasing life insurance has passed. Even if your mortgage is paid off and your children are living on their own there is still a need for financial security if anything would happen to either of you. There is a chance that your spouse could outlive you by 10 to 30 years. If that is the case, would they have to make drastic changes due to their new financial situation? Life insurance at this time could assist them in avoiding financial struggles.
Many people avoid purchasing life insurance because it seems like an overwhelming process with many questions. “How do I determine how much insurance to buy? What kind of life insurance best fits my situation?” This is where a qualified life insurance professional can help. They will sit down with you and assist in finding the best possible options to fit your needs. Best of all, this consultation is free! Whatever stage of life you are currently in, call The VanDyke Group and get the peace of mind you deserve.
Want to save money? Let us help you.
Material posted on this website is for informational purposes only and does not constitute a legal opinion or medical advice. Contact your medical professional or legal representative for information specific to your needs.