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Life Insurance – Reasons to Consider It

Life insurance can be very difficult to understand. Especially the costs and benefits. Take term insurance as an example. To some people, it is frustrating to have to send a check every month and never get anything back!

So why would anyone buy this stuff?

Some Humorous Reasons to Consider Life Insurance

  • Your brother-in-law sells insurance
  • You want the local college to name a building after you
  • You want to set up a trust fund for your dog after you die
  • You want a fancy funeral
  • You hope your children will visit more often if they are beneficiaries

Some Better Reasons to Consider Life Insurance

All kidding aside, there are some good reasons to consider life insurance including the following:

  • You want to leave money to your favorite charity
  • You want cash to help transfer your business to family or a partner
  • You want some cash so your family doesnt have to sell a business or farm
  • You want to pay off your debts
  • You want to take care of your loved ones if you die too soon

Regardless of which reason is important to you, you should consider what you want to protect. No one can tell you what the right amount of life insurance should be.

However, a good insurance agent can help you quantify how much coverage you may need and how much it will cost.

Getting the right mix of term and permanent is important

Some needs, like taking care of your children, only last for a certain period of time. When they are grown, the need will be gone, so term insurance can help with that need. Other needs last for life so you may want to consider some types of permanent insurance

The key is to take action and get started now. Even if you cant afford to buy the entire amount, starting today can help protect your family in the future.

Need to Know More?

Investing in Life Insurance


Featured Blogger Matt Easley is Vice President of Life Products at Allstate Insurance. His views are his own and do not necessarily represent the positions, strategies, or opinions of Allstate.

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