Reason #4 to Buy Life Insurance Now
Do it for your family and home
Protecting the home and family are often the key drivers behind a life insurance purchase.
Homeowners often need coverage to spare family members from the financial burden.
This could mean making sure there’s enough coverage to pay off the mortgage, even if the survivors ultimately decide not to use the money for that purpose.
But while life insurance protection for the home may be seen as optional, providing for children is a different story.
For parents, the need is much greater and less debatable. If a parent passes away, their children still need food, clothing and shelter. If the deceased parent’s income was also the funding source for college saving, replacing this should be considered, as well.
Even a parent who’s not the family breadwinner should consider life insurance.
Replacing the care a stay-at-home parent provides can be expensive, and life insurance can be a great source of these funds if the unexpected happens.