It’s not uncommon for people across many different age groups to ask the question, “Why buy Life insurance?”.
You may be single or married, with children or an empty nester. In any situation, Life insurance provides protection and peace of mind. How does it manage to provide those benefits? Well, here are three simple examples of how life insurance could have your back:
John, 33 years old, is single and starting a business.
His bank wants to make sure that he is able to repay his business loan in the event of his premature death. His $500,000 term life policy affordably covers his obligation.
Kara, 41 years old, has two teenagers and works a full-time job as a senior vice president at a local banking branch.
She is concerned for her children’s future financial needs of college and room & board in the event of her absence. She also wants to see a return on her premium paid so she purchased a whole life policy that will build cash values.
Glen and his spouse Carla are expecting their first child.
Both are concerned about providing for their child and each other in the event of the premature death of either. Glen and Carla purchase term life insurance to cover their needs.
Why not contact us today to discuss your Life Insurance needs?
We will conduct a needs analysis to assist you in determining what type and amount of insurance would best meet your needs.
Note: The examples and descriptions used throughout this article are for general information purposes only, not legal advice. All scenarios presented are fictional, any similarity is merely coincidental. Coverage is not guaranteed, rather they are subject to the decision of insurance underwriters and other authorities. Policy/coverage availability and limits can vary based on person, location, and other variables. Please consult your insurance agent and review your insurance policies to understand your existing coverage and/or potential coverage options. Read our disclaimer.
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