Over the course of this week I will be sharing with you a few articles explaining why life insurance and living benefits are essential to any financial plan.
Why Bother With Life Insurance anyways you ask? Some may say that they don’t need life insurance, because once they pass away then they won’t have to worry about their financial situation anymore.
But someone will have to deal with your final expenses, your debt/capital gains, and your inability to earn an income from the other side. Are you willing to leave your loved ones with this burden?
If you just read that and thought
“I don’t plan on dying any time soon”
then my apologies, I didn’t know you could predict your date of death.
Sorry to inform you but everyone dies, and A LOT of people die unexpectedly. So, if you don’t love anyone enough to take the financial stress of your death away from them, then you might as well stop reading right now.
Still reading? GOOD! I respect that you’re being a responsible individual and want to learn how protect the loved ones in your life.
To combat the unexpected, it is a good idea to invest in some life insurance for at least the following two reasons:
1. To take care of any debt you may have.
This could include setting money a side to cover your funeral costs, legal costs, student debt, property tax, income tax, capital gains tax, mortgage, credit card debt, debt from car loans, line of credit, etc.
2. To take care of any dependents you may have.
Do you provide for anyone? Does your partner rely on your income? What about your children, mother, father, any other family members you may support? Leaving some money to ensure that your family can continue to live the life they have become accustomed to living is essential. Setting money aside to replace your income will aid those people that depended on you, and assisting with future education expenses will also guarantee that you have given your loved ones every opportunity to succeed.
Hopefully this has helped you more thoroughly understand the value of life insurance. Please contact me to learn how I can help you assess your needs, and show you a game plan to protect you and your family.
Financial Security Advisor
Life Insurance Broker
Office: (519) 648-9580
Fax: (519) 489-2740
244 Woolwich St. South, Unit #1 ~ P.O. Box 261 Breslau, ON ~ N0B 1M0