082832 Who Needs Life Insurance?

Who Needs Life Insurance?

 

Not everyone needs life insurance,

But it’s important to figure out whether you do.

You may need life insurance if…

 

 

* You Have Dependents 

 

The most common reason for buying life insurance is to protect

Your dependents from the loss of your income.

If you have a spouse, children, or other dependents,

The payout can help your family

Survive the financial impact of your death.

 

 

* You Own a Business

 

If you're a business owner, you may need life insurance to help

Keep your business alive. It could also provide your heirs with

The cash needed to disband or sell the business, or it could insure

Another employee who is key to the success of the business.

If you co-own a business with another person, each partner may

Need a policy that will allow them to buy out the other’s half of the

Business after their death. 

 

 

*You Carry a Great Deal of Debt

 

Most debts owed solely in your name must be paid off by your estate

After you die. Co-signed loans become the co-signer’s responsibility

If they pass away before paying the debts off. Dying while carrying

Debts could mean your estate goes entirely toward paying off your

Creditors. That could leave any loan co-signers on the hook for debts

You agreed to pay. Life insurance can help pay off your debts so they

Won’t affect your heirs. 

 

 

* You Want to Cover Your Burial Expenses

 

The median cost of a funeral with a viewing and burial was $7,848

In 2021.

(According to the National Funeral Directors Assoc.)

https://nfda.org/news/statistics

 

 

Life insurance can help cover the cost of your burial.

That can help you feel secure knowing that your death will not be

An added financial burden your your family, especially if you have

Any concerns about their ability to afford a funeral.

 

Final expense insurance tends to be affordable.

This is a specific type of Life insurance for burial expenses.

The death benefit is fairly low; it’s often in the $10,000 range.

 

- Emily Guy Birken

 

https://www.thebalance.com/who-needs-life-insurance-2645793#toc-why-buy-life-insurance

 

 

 

I Still Make House Calls.

 

Contact Me Today.

 

Hayden Childs

Alabama Licensed Agent

(205) 269-1382

www.haydenchilds.net

 

“The grief is bad enough,

Don’t leave the burden

To your family!”