Who Needs Life Insurance?

Who Needs Life Insurance?

Few people like to consider the fact that, eventually, they will die. That doesn’t mean it’s a good idea to avoid thinking about this morbid subject altogether. It’s important for parents, spouses, and others to think about what will become of those who depend on them financially after they pass.


unum life insurance to ensure dependents’ or other loved ones’ financial security is to obtain a life insurance policy from FutureWise Insurance. Read on to find out about a few groups of people who should always have either term or permanent life insurance policies.


Married Couples


The majority of married couples live in two-income homes, so many people assume they don’t need life insurance. The assumption is that, if a spouse is working, he or she will be able to manage. The reality is that, without a second income, bills can pile up fast, so it’s best to look into life insurance policies right after marriage just in case.


Parents of All Ages


Couples with children have even more financial responsibilities. Parents should ask themselves whether their spouses and children could maintain the same quality of life without them. If hartford life insurance is no, they should take out life insurance policies to ensure their children’s future health and safety. Parents may also want to read up on family health insurance policies by visiting the Family Insurance Blog.


Small Business Owners


Children and spouses aren’t the only people who can benefit from a life insurance policy. Life insurance can also protect business assets if an owner or a key employee passes away. Policies can be structured to support a buy-sell agreement, provide financial flexibility to business owners if a key employee passes away, and more.


Retirees Concerned About Estate Planning


Retirees with grown children and plenty of money to get by on often assume that life insurance policies aren’t necessary. What they’re failing to realize is that estate tax payments can climb as high as 45% depending on the size of the estate, and that can leave heirs struggling to pay. A life insurance policy will cover these taxes so that the heirs don’t have to immediately begin liquidating other assets, reducing their value and adding stress to an already tragic situation.


The Bottom Line


It’s surprising how few Americans have life insurance policies given how affordable they are and how good they are at protecting surviving family members, friends, or business partners. Find burial insurance that can help. The dedicated agents at FutureWise Insurance can help consumers find a term or permanent life insurance policy that’s right for them, so get started today.

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