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Too Busy For Life Insurance?

July 8, 2011

Ask someone how they are doing and the general response is busy.  Busy with work, busy with kids, busy with life.  Being busy with life makes it hard to squeeze in those not so fun things to do.  Such as life insurance.  Life insurance is usually one of those things that will get done tomorrow.  After all, you are not going to die anytime soon because you are young or you are healthy or death just does not happen to you or your family.

Protect Your Family With Life Insurance

What if it does happen?  Are you prepared?  Why buy life insurance?

There are many reasons to buy life insurance.  The main reason is to protect the people you love.  Parents feel a lot of responsibility to care for their children.  Life insurance will provide the income needed to keep alive the dreams you have for your children even when you are no longer here to provide.  If  a breadwinner dies, does the surviving spouse have enough income to provide daycare, education  and living expenses for their children?  Will they have to sell the house or other assets in order to meet basic needs?

Life insurance also pays for final expenses.  Any outstanding debts of the estate or funeral expenses may be paid with the life insurance proceeds. This alleviates the financial burden on dependents and loved ones. 

Charitable organizations benefit from life insurance.  Do you have a favorite charity or organization you would like to leave money to?  Designate a charity as your beneficiary and the proceeds of your life policy will be paid to your charity.

When a person dies, their estate is subject to federal or state estate taxes.  If there is no life insurance for the estate, then the heirs are responsible for those taxes.   So the heirs may have to come up with the money to cover the taxes or get a reduced inheritance.

Lastly, life insurance is a great way to leave an inheritance to your dependents or loved ones. 

Make some time today and review your life insurance.  Do you have enough?

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