Insurance is rarely a straightforward purchase. It’s a complex topic, making it difficult to know what kind of protection you need. It’s even more challenging when you’re trying to determine if you should buy coverage that isn’t legally required, such as life insurance.
That’s why many residents in Wisconsin Rapids, WI, turn to Modern Woodmen | Scott S Paterick CLU CHFC for professional advice. As an agent with the independent company, Scott S Paterick offers clients a variety of products designed to give families financially secure futures.
Below, he explains the top reasons life insurance is such a valuable purchase.
3 Reasons to Invest in Life Insurance
1. Continue to Support Your Loved Ones
If your income is a major source of support for your family, it would likely bring them serious financial hardship if you were no longer around. Life insurance payouts can be used as income replacement to help them maintain their standard of living.
2. Pay Off Debt
When people pass away, their debts aren’t automatically absolved. If you have any lingering financial obligations when you die, they could become the responsibility of your loved ones. Your life insurance would present them with the funds to settle any outstanding debts.
3. Settle Final Expenses
The costs for funeral, burial, memorial, or cremation arrangements are quite high. This is a burden you don’t want your family to worry about, especially as they’re grieving. The money from your life insurance coverage will give assistance for these final expenses.
Although it’s not pleasant to think about leaving your family behind, life insurance will provide you with peace of mind that your loved ones will be taken care of financially. Contact Scott S Paterick CLU CHFC at (715) 424-1873, or visit him online to learn more about available policies and other financial planning services.
Securities and Advisory Services Offered Through Harbour Investments, Inc.