One of the best investments you can make for your loved ones’ future is purchasing a good life insurance policy.
Death is one of the few sure things in life. Unfortunately, we do not know how or when this inevitable truth will come to pass, so getting prepared for your (and your loved ones’) financial security is a smart move. If you are not sold on why you should invest in life insurance, we’re here to fill you in on some reasons why.
Continue reading to learn more below.
6 Reasons You Should Invest in Life Insurance
- Replace Income for Your Dependents — Do you have people in your life that depend on your income to live? If the unthinkable were to happen, you should have a safety net in place. Your insurance policy can replace that income. These unfortunate situations can happen to anyone but are commonly recognized in cases where parents have young children or the death of a partner that leaves the survivor(s) financially stricken by the lost income.
- Create Inheritance — Even if you do not have any other assets, such as money, land, or a home, to leave your loved ones, you can create an inheritance by purchasing a life insurance policy and them as beneficiaries.
- Final Expenses Payments — The average funeral in the United States costs close to $8,000. Your policy can cover funeral and burial costs, medical bills, debts, probate, and other state administration costs.
- Cover Federal and State “Death” Taxes — You can use the money from your policy to pay estate taxes so that named heirs do not have to take smaller inheritances or liquidate your assets to cover the costs.
- Make a Significant Charitable Donation — If you want to make a significant charitable contribution, you can make your favorite charity the beneficiary of your policy. The amount you donate will be a much more considerable sum than if you donated the equivalent of your policy’s premiums.
- Create Peace of Mind — Because no one can truly predict what the future holds, having a life insurance policy means you and your loved ones can rest easy knowing they are prepared for any eventualities. Holding a policy, large or small, will help you sleep a little easier at night, knowing your beneficiaries are protected should something happen to you.
Need Life Insurance? Contact Bear River Mutual Insurance
No matter how you look at it, life insurance is a good investment.
If you need life, health, auto, home, business, or another type of insurance, contact Bear River Mutual Insurance professionals. Our team of professionals is committed to helping you find a policy with the best rates and protection, giving you and the ones most important to you the peace of mind you deserve.
We are dedicated to finding the perfect balance of value and security for you and your loved ones. We proudly serve those along the Wasatch Front and have locations in Orem, Provo, and Salt Lake City in Utah. Contact us for your quote today.
