Should You Have Life Insurance? HINT: Ask Your Spouse
The question of whether you should or shouldn’t have life insurance can be an easy one to answer. Simply ask your spouse. Odds are you will get a resounding “Yes!” The reasons may include:
Paying off Debts
Your debts may be taken out of your estate leaving your spouse with less and less. Life insurance can cover these debts.
Less Stress
The death of a loved one is stressful under any circumstances. Financial pressures will only add to that stress.
Maintaining a Lifestyle
Sufficient life insurance can allow your spouse and family to maintain a lifestyle that is comfortable. It can pay off the mortgage, cars, and even provide a nest egg for living expenses.
Child Care
When a young family loses one parent it usually means an increase in child care expenses. Life insurance can help cover these added expenses.
Cover College Expenses
You may have plans to send your kids to college, but the loss of an income earner can sidetrack that goal. Life insurance can help ensure future college expenses are covered.
Provides Access to Ready Cash
Life insurance benefits are usually made accessible relatively quickly and without hassles. This can be a real gift in an uncertain time.
Final Expenses
The fact is final services can be very expensive. Even cremations, which are usually less expensive, can still total in the thousands of dollars. Proceeds from life insurance allows your spouse to make some decisions that can provide comfort for them.
The decision on whether or not you should have life insurance is not complex. Ask your spouse. Now the amount of life insurance you should have may require further discussion. This, too, can involve your spouse. Have a talk about what you would like to see happen following your death. Connect with us for a free quote. If you don’t feel like you can afford the full amount, start somewhere. It is just important to start somewhere. We can help. Reach out to us today to get started.
