Why is Life Insurance Important for you ??

Why is Life Insurance Important for you ?? 

Insurance is a tricky thing and more often than not it’s hard to know what you really need it or it's okay even if it isn’t there. In this discussion we will talk about some good reasons to have life insurance.

As we grow older we are tempted to get married, build families and start our careers or ventures, we come to realize with every passing day that life insurance is a fundamental part of having a sound financial plan.

Contrary to the popular belief, life insurance is fairly cheap, which means that you don’t get to make any excuse not to get coverage in the near future. Also, over the years, as you grow old, you’ll find comfort in knowing money will be available immediately to protect your loved ones when you leave the world.

Here are some more reasons why having life insurance is important.


If your loved ones have you as the sole bread earner, then life insurance is mandatory for you, because it replaces your income at the time of your passing. This is especially important for parents of young children or adults who would find it difficult to sustain their current standard of living if they no longer have the income that once was provided by their partner.
As hard as it might sound, life moves on and people learn to live with the memories of their loved ones. During this process, you will also need to provide enough money to cover the costs of hiring multiple people to do stuff like cleaning, laundry, cooking, childcare and everything else a family might ever need.


It's okay if you don’t have any other assets to pass to your loved ones you can create a safe level of inheritance by buying a life insurance policy and naming them as inheritors. This is a great way to help your wife and kids so that they need not to worry about the financial burdens of life.


As discussed above,in addition to providing money to cover everyday living expenses, your family needs insurance to cover any debts you might have taken in your life, for example mortgage, credit cards, car loans etc. Sadly, in the world of today even the funeral costs and burial costs are in thousands of dollars. Who would want to leave their spouse, parents, children or other loved ones to be left with any burden other than the natural, emotional burden they’re already suffering.


Like any good parents you would always want to know that your kids will be well taken care of even when you are no longer there to take care of them. You do wish to get them to get an amazing college education, and you would wish to provide for other life experiences like getting married or starting a business of their own. All of this will only be possible if you are insured.


We don’t and can never know when we’ll leave this temporary world. It could be any moment, today, tomorrow or years and years from now, but it will happen sooner or later.

We are not of the view that ANY amount of money could ever replace a person. But life insurance can help provide protection for the uncertain life we are living.

One thing is for sure that having a good insurance policy will bring you and your family peace of mind. Even when you are in a better world you will never have to question whether your parents, wife or kids will be taken care of when you’re gone. Life insurance simply helps them all to bear the loss with some financial comfort.