Raising a family and taking care of your loved ones take a lot of hard work, but have you thought about how they would get by without you? Luckily, life insurance allows you to provide for your family after you're gone, giving them the financial freedom to rebuild their lives. Here are a few reasons why investing in a policy is worth the effort.

4 Compelling Reasons to Purchase Life Insurance

1. Increased Financial Security

The proceeds from a life insurance policy can be used for a multitude of purposes. If you die with debt, it can be used to settle this, so funds are taken directly from your estate. 

If you’re the primary breadwinner, providing for your family after you’re gone is a must. With the right policy in place, you can rest assured that your family will still receive an income for daily living expenses and other financial needs. 

2. Coverage of Burial Costs & Final Expenses

End-of-life health care costs can be expensive, even if you have health insurance in place. In the same respect, burial expenses can be costly. Funding from a life insurance policy will help cover these costs. 

3. Funding for College

Along with providing for daily living expenses, a policy can also help your children seek higher education. When purchasing insurance, secure enough coverage to meet all the financial needs. 

4. Access to Investment Opportunity

Certain types of policies, such as whole life insurance, offer an investment component. Whole life can be borrowed against while you’re still alive, as it accrues cash value as long as you continue to pay the premiums.

If you have questions about life insurance, getting the right answers will help you make the correct decisions. In Hastings, MN, Schommer Insurance is glad to sit down with clients and discuss the particulars of their policies. As an independent agency, they provide insurance products from reputable carriers with prices that most people can afford. They also provide home, auto, and business insurance. Call (651) 319-0699 to schedule a consultation or visit the website to learn more about their life insurance policies.