While the reality is that not everyone needs life insurance, it will be costly if you fail to invest in life insurance, yet you need it. If you are in Plainfield, IN, and wondering whether life insurance is an investment worth considering, here is a brief guide from Gill Insurance Agency to help you decide whether you need life insurance.
If you are young
Most people assume that if I am in my twenty-something, why do I need life insurance, yet I am single, and the chances of dying are low? It will be a mistake to think that you don’t need life insurance because you are young. In fact, it’s advisable to start life insurance while young because it’s cheaper.
If you are in your 20s or early 30s, buying home insurance now will pay off in the long term.
You have dependents
Do you have dependents that rely on your income? While you may not have children or a spouse, you could be having aging parents or siblings that depend on your income while alive. If you would like to safeguard the financial stability of your dependents even when you die, you need life insurance. This investment supplements your income when you are long gone, helping your dependents meet their financial obligations.
You have debts
Assume you have a 30-year home mortgage? What would happen if you die in 15 years? Your loved ones will have to face the financial burden of the debt you leave behind. However, when you invest in life insurance, the proceeds can be used to pay off your debts.
You are in business
If you name your business partner as a death beneficiary, life insurance will help them navigate in your absence.
Now that you have an idea about who needs life insurance, it’s time to purchase coverage from Gill Insurance Agency serving Plainfield, IN, and its environs. Please contact us today for a personalized quote.