Death is Inevitable
One moment, you may be very much alive and kicking, next moment you might be gone – forever. Your loved ones will only be left with memories of you and, sadly, they will be left responsible for paying off your debts. Ideally, when you die, all your problems will die with you. But your problems will become a burden to your loved ones. The surviving spouse is the one greatly affected by the husband or wife’s death. The pain of losing someone very dear would be unbearable enough to endure more from thinking about the debts left by the deceased.
Live in Peace
But there is a great way to live with the peace of mind that whatever happens to you, there is no need for your spouse to worry about your unpaid debts. And that is to get a life insurance policy.
The main purpose of getting life insurance is to cover the outstanding debts and provide continued income for spouse and family who are left behind. This is very important for every person who has someone depending on him/her for support. Imagine a breadwinner who suddenly passes away with little to no savings. The dependents will surely have difficulty keeping up even with their basic needs. What more if the deceased has left behind debts that do not go away with his/her death? The creditors can go after the debtors’ estate. The heirs could lose even their house to pay off the debts. For a married person, the surviving spouse is the one who would bear all the troubles that have to be settled with. Aside from coping with the hurt of losing a spouse and thinking about the children’s future and how the family will get by after the loss, the widowed will have no choice but to struggle with paying off all the debts of the deceased spouse.
A Loving Spouse
Every married person should see this future scenario in case of death. A married individual who thinks ahead for the well-being of their family is the one that thinks about the future. And the future includes death. A responsible partner, especially if the person is the primary wage earner in the family who loves to protect his or her spouse, will provide financial security and protection to their family. This is making sure that even when the time comes that he will pass away, or even meet an accident that would cost his life, he does not have to worry about the people he left behind.
Moreover, having life insurance would be a great help to the spouse to save the deceased spouse’s estate. Instead of giving up the properties and other assets that are important to the family, the life insurance death benefit could be used to pay off the debts that do not go away with death.
Most, if not all, surviving families of policyholders are always thankful for the usefulness of money they receive from the life insurance companies. The death benefit, which is free from tax, not only helps them financially but most of all, it helps lessen the pain and all the burdens that come along with losing a family. Having life insurance is one of the ways to be ready for your family if the unexpected event in life’s reality comes – death.
Providing for the Children’s Future
Investing in Life Insurance might sound expensive to some, but if you start early, Life Insurance is actually very cheap compared to the benefits that you will reap in the future. A good family provider gives the needs of his or her family: basic needs, shelter and clothing, children’s education; and the financial security that whatever happens, the surviving family will continue to live the life they always had.
Most parents save for their children’s college funds while their kids are young. This is because sending kids to college is not cheap. But what happens when the primary earner of the family passes away and was not able to save that much for college? The children will be burdened by college loans, or may juggle works in between school or may not go to college at all.
Investing in Life Insurance also provides a safety net for your children to fund their college. Proper planning for the future not only keeps your family free from financial dilemmas but also shows how much you care for your loved ones that even after death, you are still able to provide for them.
Creating a Financial Safety Net
Aside from paying insurance premiums for the costs and expenses associated with your Life Insurance policy, investing in Life Insurance also provides savings options. Most Insurance policies nowadays give their clients not only death benefits but living benefits as well. This is especially when you start at a young age. It is known that the younger you start contributing to your Life Insurance, the more affordable is your policy and you will get more benefits from it. Most insurance premiums today have the savings portion for the premium paid which the policyholder can use while he is living or pay for his premiums in the later years of the policy.
Also, Insurance Options are now being offered to policyholders. The most common among these is the Critical Illness Benefit. Many clients add this to their insurance because if they succumb to critical illness when they get old, their families will no longer have to worry about paying enormous amounts. Life Insurance will take care of the hospital bills given that the diagnosed illness is covered in their policy rider.
Investing in Life Insurance will not only lessen the financial burden of your surviving family when you are gone. But it will definitely show how compassionate you are about the financial security and financial protection of your loved ones. Death does not end the care and love that you have for your spouse and children. Having Life Insurance will continue to provide for the needs of your family even when you are no longer around.
Get a Free Quote Now
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To find out more about Term Life Insurance and to get a free and confidential quote, call the professionals at BBIFinancial at (800) 958-1525 during normal business hours or contact us through our website www.BBIFinancial.net for more information.