Insurance is there to protect the things that matter most, and nothing is more important than family. That’s why life insurance is one of the best investments you can make, ensuring that your family can remain financially stable if the unexpected happens to you. While many people believe that they’ll only need life insurance when they’re older, you should evaluate your needs and consider purchasing a policy any time you take on new financial responsibilities. Here are just a few of those scenarios.
When You Should Purchase Life Insurance
After a Marriage
Even if both you and your spouse work, a life insurance policy will provide stability if a sudden loss occurs. Without it, they may not be able to afford to stay in your house, pay your joint debts, or continue planning for the future. Being spared these financial concerns will allow your spouse to concentrate on their healing, instead of worrying about money.
The Birth of a Child
Having a child is an enormous responsibility. With your life insurance policy’s death benefit, your spouse will still be able to provide shelter, food, and the other things a child needs. Many parents choose to leave enough money to pay for their child’s education, helping them work towards education and a brighter future.
Taking on Additional Responsibilities
Perhaps you’ve started caring for a family member’s children, or an elderly parent has moved in with you. Whatever the circumstance, you should consider purchasing life insurance to ensure you can continue fulfilling your obligations after you’re gone. While it’s never pleasant to think of passing, you want to make sure that the people who rely on you are taken care of, no matter the situation.
With over 25 years experience, Brent Layton with Farmers Insurance Group® has the expertise and wide range of products to ensure your loved ones have the protection they need. Over the years, he’s built a reputation throughout Tremonton, UT, for personalized service and total dedication to every client’s welfare. To learn more about the benefits of life insurance and request a quote, visit him online or call (435) 257-3829. You can also follow his Facebook for more industry tips and advice.