Life Insurance is important, especailly if you are married and plan to have children because it allows you to save money while planning long range. Life insurance is an important piece of the total financial plan that enables tax management strategies, and if you are young by using stock based life insurance enables investment strategies that can build assets while you are in essence doing "dollar cost averaging" which minimizes your risk by buying stocks at a regular interval based on the current price of the stock. Before this administration began the "stock market on steroids" the share price of stocks fluctuated and the ability to buy at a regular interval meant your overall price per share was decreased while over time the net value per share increased. Life Insurance can enable you to know that you will have the funds to educate the children while at the same time if an emergency happened you had the financial stablity to piece your life back together and continue living a life full of dreams and promises. Life insurance becomes an important piece of the financial plan that enables Estate Planning thereby enabling the parent to pass assets to the children while minimizing tax consequences. For the business owner there are many business planning strategies using life insurance to reach your financial goals.
Life insurance is important to many people because it is the only way they will ever be able to afford to leave money for their loved ones and financial obligations. Saving up $100,000 can take some people a lifetime. However, purchasing a $100,000 life insurance policy is affordable for most people.
There are many other reasons that life insurance is important, to different people, for different reasons. In my experience, though, no reason reaches the level of importance in the minds of those who buy life insurance, as the reason above.
Life insurance is because we love. When we love we draw from each other and that stops when a person dies. There are usually messy details that require money when a person dies. If you love you can provide the money necessary to make sure that those you love don’t suffer just because you have left them. In fact your wildest dreams can be realized with life insurance.
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There are many other reasons that life insurance is important, to different people, for different reasons. In my experience, though, no reason reaches the level of importance in the minds of those who buy life insurance, as the reason above.