52 million Americans who earn between $50k and $250k a year don’t have life insurance. These are people who have dependents, families, businesses and legacies to protect. These are people at risk of illnesses, accidents and death. These are people who are looking forward to retirement, but may not be able to save enough during their working lives to support themselves.
Many people first become aware of life insurance through a friend, and acquaintance or through advertising. It is forced on them, and thus seems annoying, unnecessary and inconvenient.
However, this is not the case. Not only is life insurance an essential for keeping those you love protected in case of illness, bankruptcy or death, but it can also be used by you throughout your life to protect mortgages, pay college tuition fees and supplement pensions with tax-free retirement savings plans.
Life insurance guarantees stability, for you, for your dependents, for your business. With a secure life insurance plan in place, you can be certain that whatever happens, you and your most loved will be able to maintain your lifestyle and security.
Life insurance not only ensures security throughout and after your life, but it can also be used to make things easier for your family and any businesses you may be involved with in case or your death.
Funeral and burial can cost upwards of $7000 for a basic service. These necessary expenses can come as a shock, especially during periods of grief. However, life insurance will cover these costs so your loved ones needn’t endure the added stress of these costs.
Life insurance can also be bought on a business partner’s life so in the case of their death, you will be able to buy out their interest from any heirs and pay their share of the company’s obligations without risking bankruptcy or debt. Personal life insurance can be used to keep the investors’ business afloat during turbulent times in case of their death.
Most commonly, life insurance is used to maintain the lifestyle of the investor’s family in case of their death, to protect and pay mortgages, bills and college tuition fees, to supplement retirement plans and to fund expensive and extensive medical treatments. Life insurance is an invaluable investment that essentially buys you security, no matter what happens.