Who Needs Life Insurance?
Parents typically take out life insurance for their children’s benefit. Grown children may write their parents in, as dependents, on their life insurance policies. The assignation is easy when it’s on paper, but taking out a life insurance policy also means an investment of money and in this world of increased spending, it is increasingly difficult to save for the future.
So, does everyone really need life insurance and is it that important? Again, life insurance is, put simply, a financial package designed to protect those who depend upon a certain person for monetary support. If that person dies, those who need him or her will need money. Life insurance can cover those needs, depending upon the policy that was chosen. In other words, life insurance is designed to insure a provider and protect the provided.
Next time we’ll take a look at who should have the coverage and some of the available options. As always, your independent insurance agent is in the perfect position to provide you all of the help necessary, to make wise choices, when it comes to purchasing just the right life insurance for your needs!