According to the Insurance Barometer 2020 Report, approximately 41 million Americans said they need life insurance, but they don’t have it. Part of the failure to invest in life insurance is that most people assume it’s expensive. For others, they wrongly assume that they don’t need life insurance at all.
While not everyone needs life insurance, if you are in the below categories described by Kriener Insurance of Woodbury, MN, you need life insurance ASAP.
You have dependents
Of course, most people take life insurance to supplement their income when they die. If you have a spouse, aging parents, kids, or siblings that depend on your income, think about how they would survive in your absence. It would be hard, right? For this reason, invest in life insurance today to safeguard the financial future of your loved ones.
You are planning to get a baby
If you are expecting a baby or about to adopt one, now it’s time to buy life insurance. Since your health declines with age, waiting to buy life insurance until your kid attends school will be expensive. Instead, purchase life insurance today – it will be cheaper, and it will step in to cover child care expenses if you die unexpectedly.
You have debts
When looking for a life insurance plan, financial experts advise you consider your total debts so that your beneficiaries can pay off your debts in full. Without life insurance, you are likely to burden your loved ones and cosigners with debts like mortgages, student loans, and credit cards.
You have a business
If you would like your business to succeed even when you pass on, invest in life insurance. This coverage ensures your employees and other stakeholders are paid in your absence. Besides, life insurance can help finance any outstanding business loans.
Buy life insurance today!
Now that you have seen life insurance benefits, it’s time to invest in a plan. If you are in Woodbury, MN, and its environs, please contact Kriener Insurance for an affordable quote.