12 Reasons Why You Need Life Insurance

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WHY YOU NEEDLIFE INSURANCE

12 REASONS


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LIFE INSURANCE is important at every stage of life. Making sure this is in order is the foundation of FINANCIAL SECURITY for you and your family. Whether you are married with kids or single and launching your career, life insurance is for you. Here are 12 REASONS to consider a life insurance policy.



COLLEGE EXPENSESIf you’re a college graduate, you’re probably digging your way out of student LOAN DEBT. Or perhaps you’re a parent of a recent college graduate. While federal loans are discharged after the borrower’s death, parents and cosigners on private student loans may still RESPONSIBLE for the debt.



In the past 10 years the median COST of a FUNERAL including both the viewing and burial INCREASED by nearly 30% - National Funeral Directors Association

(STAT)



If you wish to REPLACE YOUR INCOME FOR LIFE, a good rule of thumb is to multiply your annual salary by 17. So for example, if you make $60,000 a year then your minimal life insurance policy amount should be set for $1,020,000. If you are not looking to replace your salary for life and simply want to COVER DEBT and outstanding FINANCIAL RESPONSIBILITIES, 5 to 10 times the salary would work.

EMPLOYER PROVIDED POLICY IS LIKELY MINIMAL

Source: http://www.doughroller.net/insurance/life-insurance/how-much-life-insurance-do-you-really-need/


http://www.doughroller.net/insurance/life-insurance/how-much-life-insurance-do-you-really-need/


The SOONER you purchase a life insurance policy the BETTER. Life insurance premiums are typically dependent on age, health, and lifestyle, so a few years can make a difference in the cost of premiums.

YOU’RE LOSING MONEY BY NOT DOING IT



(STAT)

INCOME replacement was the top REASON consumers gave, for PURCHASING life insurance.

- LIMRA



Life insurance is yet another way to transfer wealth to your children. It’s COMFORTING to know that life insurance provides CASH BENEFITS to your beneficiaries at a time when it may be most needed.

TRANSFER WEALTH TO CHILDREN



Life insurance is a simple answer to one of life’s most difficult question: Will my FAMILY be financially SECURE when I die? Planning for the FUTURE is precautionary measure to one of life’s most uncertain but inevitable moments. DON’T PROCRASTINATE!

YOU NEVER KNOW



The last thing you want to leave your loved ones with is the FRUSTRATION of figuring out how to pay for FUNERAL COSTS. The National Funeral Directors Association, the national cost for a funeral is $8,508. Research funeral costs in your area to make sure you have enough to cover expenses.

FUNERAL COST ARE INCREASING



85% of Americans say most people NEED life insurance yet only 62% HAVE coverage. -LIFEHAPPENS.ORG

(STAT)


http://LIFEHAPPENS.ORG


If you own a SMALL BUSINESS, a life insurance policy could allow your partners to SEAMLESSLY purchase your portion of the business and COMPENSATE your heirs.

A SMART BUSINESS MOVE



If you have an existing permanent life insurance policy, it may be possible to ACCUMULATE cash value for FUTURE retirement INCOME. For certain policies, like whole life insurance, these funds can COMPLEMENT 401(k) plans, IRAs, and Social Security.

SUPPLEMENT YOUR RETIREMENT



Low cost, tax-free life insurance mortgage protection can help PAY OFF or reduce the cost of your home. As one of your family’s LARGEST ASSETS — and perhaps largest financial responsibilities - ensuring that the home is secured can prevent major asset loss.

MORTGAGE AND ASSET PROTECTION



Life insurance takes all of the guess work out of the picture and PROVIDES you with PEACE OF MIND regarding your family’s financial FUTURE. You can be at peace knowing they will be economically SECURE.

THE PRICELESS GIFT OF PEACE OF MIND


LIFE INSURANCE IS FOR THE LIVING


In the unfortunate event of your death, losing you will be hardship enough for your FAMILY without the stress of managing FINANCIAL WORRIES. Taking out a life insurance policy prioritizes your loved ones.



There’s no time like the present! Life is unpredictable so why not be prepared. LIFE INSURANCE is an easy way to PROTECT YOUR FAMILY during one of life’s most difficult times. Whether you are single, married, just starting a family or retired, a life insurance policy is something worth considering.


SOURCES


• http://www.wbrinsurance.com/2015/08/why-do-i-need-life-insurance/

• http://www.wbrinsurance.com/life-insurance-2/

• http://www.wbrinsurance.com/contact-us/free-quote/

• http://www.usnews.com/education/best-colleges/paying-for-college/articles/2015/01/28/protect-cosigners-families-of-student-loan-borrowers-with-life-insurance

• http://www.bankrate.com/finance/insurance/reasons-to-buy-life-insurance-now-1.aspx

• http://www.limra.com

• http://www.thefiscaltimes.com/Articles/2013/12/27/5-Reasons-Singles-Need-Life-Insurance-Too

• http://www.usnews.com/education/best-colleges/paying-for-college/articles/2015/01/28/protect-cosigners-families-of-student-loan-borrowers-with-life-insurance

• http://www.doughroller.net/insurance/life-insurance/how-much-life-insurance-do-you-reallyneed/

• http://nfda.org/about-funeral-service-/trends-and-statistics.html#facts


http://www.apple.com




http://www.bankrate.com/finance/insurance/reasons-to-buy-life-insurance-now-1.aspx

http://www.limra.com

http://www.thefiscaltimes.com/Articles/2013/12/27/5-Reasons-Singles-Need-Life-Insurance-Too

http://www.usnews.com/education/best-colleges/paying-for-college/articles/2015/01/28/protect-cosigners-families-of-student-loan-borrowers-with-life-insurance


http://nfda.org/about-funeral-service-/trends-and-statistics.html#facts

Lifestyle

12 Reasons Why You Need Life Insurance