everyone should consider life insurance

A question I get from many clients is “why do I need life insurance?”  In most instances I get this question from my clients who don’t have a “family of their own” at the time.  Of course, most of these clients have parents still living which means that someone will likely be caring for their final wishes should an unfortunate event occur.  In working with clients from all walks of life, I find that life insurance is a great value at any time in life, no matter your marital or familial status.  In fact, life insurance may even have provisions to indemnify you in the event of the loss of your eyes or a limb.  In addition, benefits of life insurance can be realized while you’re still living if you have the right policy.  Here are some reasons why you should consider life insurance:

  • Replace income for your family
  • Protect your family from financial hardship
  • Preserve your family’s lifestyle
  • Buy time for your family to adjust
  • Pay off your mortgage
  • Pay for child care if your spouse must return to work, or either spouse were providing such care.
  • Pay medical bills incurred
  • Pay for funeral expenses
  • Pay other debts
  • Fund your children’s education
  • Fund and emergency fund
  • Acquire guaranteed insurability
  • Pay taxes
  • Fund retirement, or supplement retirement income
  • Business continuation for business owners
  • Charitable contributions

Of course, these examples are only some of the reasons everyone should consider buying life insurance.   Certainly, I consider each client based upon their own needs and situation.   There is no “magic formula” that will determine how much life insurance you might want to consider.  This is why we sit down together to perform a “Needs Analysis” to determine your need and goals with life insurance.  Everyone should at least give a look at what life insurance can do for them.

If you would like further information please contact me.

Cody Johnson, Agent
Balsiger Insurance