Five reasons plus one to buy life insurance
You buy life insurance because it is the best way to protect your loved ones. It is a financial decision…kind of. It is an emotional decision…sort of. It is about love and caring and future...most definitely.
Still, millions of men and women buy life insurance every year for reasons that are often difficult to express. At the same time, the reasons are simple and obvious. That’s the thing about life insurance. The idea may be simple, but the reasons behind it cut deep, to our very core, almost to an instinctive level.
At the heart of it, if you are like most people, you do so for five very good reasons.
Life insurance is about love and life and taking care of loved ones.
It is about meeting responsibilities and keeping promises.
If you own life insurance, it is because you view it from your family's point of view, not your own. You see life insurance as a tool that protects your spouse and children from the potentially devastating financial losses that can result if you die prematurely.
You recognize that life insurance is for the living.
It has nothing to do with you.
. You know that, should anything happen to you, the life insurance you have purchased is in place to protect and provide financial relief for those who must carry on without you. It’s about them.
You know that life insurance is an expression of love and caring.
Should you die, the proceeds will help you keep the promises you have made to those people you care about.
You know that life insurance creates options
Too often, when an income earner dies, survivors are forced to make tough, dramatic decisions -- and to do so quickly – at a time when they may not be emotionally in a position to make good choices
Life insurance buys time and buys options. It gives them a chance to adjust over time rather than need to look right away for a downsized home or new job.
Your life insurance gives your family choices by providing the benefits to help pay off debts; to help meet housing payments and ongoing living expenses; to help fund college educations for your children or grandchildren; and more.
You know that life insurance provides cash when it’s most needed.
Your policy is a valuable piece of property that can deliver a specified sum of money at the exact time it is needed most.
Upon your death, your family can be assured that the amount you have chosen – perhaps hundreds of thousands of dollars; maybe even millions -- will be there almost immediately. And that money is generally not subject to federal income taxes. A $500,000 policy provides $500,000 in death benefit proceeds.
If you are not completely certain that your coverage is in line with your family’s needs, please pick up the phone and call your New York Life agent today to schedule an appointment. When you meet, you’ll work together to determine how much coverage you need, the type of policy that may be right for you, cost comparisons, and more.
We’re here to help you make the best decisions based on your individual needs, current situation and long-term goals. Don’t have an agent? Click on the Talk to Us button to find one near you.