It’s difficult but necessary for us to consider the fact that we may not always be around to provide for our loved ones. Despite the unpleasantness of doing so, planning for your family’s future is important, and part of that is ensuring you have life insurance.
It’s Not about You
You go out of your way to make sure your family is protected on the road and in your home, but their need for protection doesn’t stop when you are no longer around. In reality, they’ll need you more than ever. The average funeral costs between $7,000 and $10,000. For most of the middle class, that kind of financial burden could wipe out an entire savings account. Even for those who can afford funeral costs, they would surely feel the financial impact. Life insurance means that your family can grieve without the added stress of having to figure out how to pay for your service and burial.
Getting Your Money’s Worth
Life insurance doesn’t just pay for a funeral, it pays for time—the time your family will need to adjust to life without you. Death is often unexpected, and with it comes big decisions that need to be made quickly. When your family’s income is reduced or disappears completely, lifestyle changes will be necessary. Life insurance provides your family with the time they need to think through the tough decisions; to continue to pay the mortgage while they formulate a long-term plan and to learn how to live without you in their lives.
The Right Time to Buy
While there is no bad time to buy life insurance, there are certainly times that are better than others. Waiting until you are sick is out of the question; it’s difficult to get life insurance when you have already been diagnosed with a potentially life-threatening medical condition. Likewise, life insurance premiums will go up as you age, so the best time to get coverage is when you are in your 30s or 40s and in relatively good health.
Contact one of the experienced agents at DiVirgilio Insurance to learn more about your life insurance options. Call us at 781-592-5220 or fill out the form on this page for a free, no-obligation quote.