The need for life insurance is something to think about, especially during joyous life events. The thought of leaving our loved ones is a painful one, but with careful planning, we can at least help ensure that our family will have the physical comforts and financial security they deserve. As we go through life, it can be tempting to focus on the joys of the events that change our lives in various stages. This can result in neglecting the long-term planning needs these changes may bring.
How can you tell if your changing life stage signals a need to obtain or update your life insurance coverage? Look for these 5 signs you need life insurance:
Graduating College –While life insurance may not seem like an urgent necessity at this point, it is the ideal time for you to purchase a policy. Your rates will never be lower, and obtaining life insurance now allows you to make affordable provisions for your future retirement while establishing protection for your future family members.
Getting Married – You just pledged to love, cherish, and protect your loved one from harm all the days of your life; life insurance allows you to help fulfill that pledge even after you are gone. If something happens to you or your spouse, the survivor would face financial obligations on his or her own, with everything from daily living and funeral expenses to retirement funds now becoming the survivor’s sole responsibility. Life insurance provides help with everyday expenses as well as ensuring the surviving spouse can have a comfortable and secure future.
Becoming a Parent – Having a child is a marvelous event that comes with a heavy dose of responsibility. A life insurance policy can help assure your bundle of joy can have the best life has to offer, even if you are not around to help in person. Life insurance benefits will help your spouse provide all the various needs of your child or children, such as food, clothing, and education, minimizing the risk of having to struggle or scrimp.
Becoming a Homeowner – All too often, surviving spouses are forced to sell a beloved home after their husband or wife dies because they are unable to afford the mortgage payments on their own. When you put in place a life insurance policy that is large enough to cover your entire mortgage, you can give your spouse the peace of mind that comes from a secure living situation.
Planning for Retirement – Purchasing life insurance can allow you to spend your hard-earned money enjoying your retirement, while still providing a lasting legacy for your loved ones. The current volatility of the market has left some seniors without the resources they thought they would have for their later years; a life insurance policy provides a safe haven that can help protect your assets and provide you with funds that may be used when you are ready for retirement.
In addition to changing your life insurance needs, these pivotal life events also create a need for the protection of other insurance policies, such as health insurance, disability income insurance, long term care insurance, and more. The dedicated experts at MHG Insurance Brokers will work with you to satisfy all your insurance needs, making certain that you and your loved ones have the coverage you need to be fully protected at every stage of your life.
Call MHG Insurance Brokers today at 954-828-1819 or visit us online at mhginsurance.com for help in selecting life insurance and other coverage to ensure you and your loved ones have the protection you need at every stage of your life.