Top Ten Reasons You Need Life Insurance Calculator
Let’s talk about life insurance —
it’s never a “fun” conversation to have. But when you sit down with an expert
who has your best interests in mind, you may find that life insurance is
something you not only need, but truly want, as well — to protect your family,
dependents, business and legacy.
Why?
1. You never know.
Dying
suddenly — in an accident, by unexpected illness or even of natural causes —
can happen at any time. Life insurance helps your loved ones pay the mortgage,
bills, even college costs, after you’re gone. It also provides tax-free cash to
pay estate and death duties. Nothing can replace you in their hearts, but
planning ahead with life insurance can make things easier for those you leave
behind.
2. Funerals are expensive.
In
some cases, upwards of Rs7,000 to Rs10,000 — and we’re not talking about
extravagant funeral services. This is the average cost of a burial ceremony
that will be faced by your loved ones. At an already difficult and
emotional time, your life insurance can cover these expenses without financial
hardship or further stress.
3. Protect those you love.
In
your life, you work hard to make sure those you love — spouse, partner,
children, family members — are taken care of. It’s just as important to
consider providing financial support for the future living costs of surviving
dependents. After all, they will have to go on without you. Make sure they’re
protected, too.
4. Death shouldn’t mean debt.
Life
Insurance can help your dependents cover any financial responsibilities that
are left after your death. Debt can be a tremendous burden, on top of the
already emotional toll your absence creates in their lives.
5. Anything can happen.
If
you develop a serious illness, you may not be able to get life insurance to the
extent you need it — or at all. If you have a terminal illness, life insurance
can provide you with financial support. Life insurance can also be used in case
of emergencies by requesting a withdrawal or loan.
6. Take care of business.
Life
Insurance isn’t just for individuals. It can protect a business from financial
loss, liabilities or instability in the case of the death of a business
owner/partner. Whether providing necessary short-term cash or keeping
operations going until things settle, life insurance can be invaluable in
maintaining the business you’ve worked so hard to build.
7. Supplement your
retirement.
You can use life insurance to make sure your retirement savings
lasts as long as you do. An annuity is
like a do-it-yourself pension plan — you put an amount of money into a life
insurance product and in return you get a guaranteed stream of income month
after month, for as long as you live.
8. It makes financial sense.
Life
insurance is considered a financial asset, which can help increase your credit
and help you to get a loan or health insurance. Many policies have cash value,
which even in case of bankruptcy cannot be touched by creditors.
9. Give to charity.
Life
Insurance can enable you to leaving a lasting gift to a favorite cause or
charity that is much larger than you would otherwise set aside for donation.
10. Peace of mind, plain and
simple.
No
amount of money can ever replace a person. But more than anything, life
insurance can help provide protection for the uncertainties in life.
Our community-based agent representatives can
help you find the right insurance solutions. Even if you already have life insurance,
it’s important to make sure it’s up-to-date.
To help determine your life insurance needs, visit our Life
Insurance calculator.
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