By: Edward L. Blais, JD, CIC, CPIA
Why is life insurance important?
As an insurance agent, I hear this question many times. My answer is always the same. Life insurance has many uses, but, most importantly, it helps you keep your promise to provide for your loved ones.
Purchasing life insurance protects your spouse and children from the potentially devastating financial losses that could result from something happening to you. It offers financial security, with some policies providing income replacement for years of the lost salary of the major “bread winner” of the family.
Additionally, life insurance can be used to pay off existing debts such as credit cards, student loans, or mortgages. It can also help to finance an education or pay for any medical expenses left behind.
Life insurance policies today offer many options depending on your specific needs. Policies can be purchased to cover your final expenses. This allows people to pre-plan their funeral arrangements, taking the stress off loved ones during a difficult time.
Many people are also unaware that life insurance can serve for estate planning as a will substitute, using it to leave loved ones a non-taxable amount at the time of death without taxation.
Depending on health, life insurance is one of the most affordable coverages a person can purchase – And just because you may not be in perfect health, it doesn’t mean you can’t get it.
At Blais Insurance, we would be happy to sit with you for a complimentary consultation to discuss your life insurance needs. By working together, we can design a customized life insurance package that helps you keep your promise to your loved ones.