Five reasons to have life insurance. There are several reasons that justify taking out life insurance. We list the most common in case you still doubt the importance of this insurance essential designed to provide peace of mind to your loved ones.
- Provides protection to yours
Life insurance is the best guarantee so that, in the event of one missing, the financial expectations of our loved ones are not affected. If the insured dies, the spouse and children will receive the death benefit that will allow them to move on without major shocks.
- Provides protection to the property
When living as a couple, both are responsible for the mortgage payment. In most cases, a single member would not be able to pay the mortgage on their own. The death benefit is enough to cover the debt incurred when buying the house.
- Cover final expenses
Many young people do not take into account that dying is not free. A Funeral home, burial, or cremation of the deceased person costs several thousand dollars. If you have life insurance, the death benefit is enough to cover final expenses.
- Provides protection against critical illnesses
Life is long and we do not know if throughout our existence we will contract a disease that disables us or makes us depend on very expensive medical care. There are life insurance policies that pay death benefits to the insured who contracts a critical, chronic or terminal illness.
- Protect relatives from inheriting a debt
Living without debt is practically impossible. In addition to the mortgage, we have car debt, furniture purchases, personal loans, student loans, and credit card debt. If we die and those debts are not paid, our relatives should pay them, something that prevents life insurance. Five reasons to have life insurance.