Excellent question! Life insurance is a financial instrument that has applications in financial, estate and retirement planning. The one thing that it does better than anything else though is create cash at death.
You buy life insurance because you care what happens to those you leave behind when you die - it is an unselfish act.
The specific reason for your buying depends on your individual circumstances and objectives. For example, it could be to protect you family , protect your businesses for your family and/or ensure your legacy. If there is a need for a death benefit, often there are living benefits for you. That means there could be something in it for you, in addition to peace of mind.
An independent broker, who represents several companies, can help you find the right policy at the right price.
If you have further questions, or feel that I could be of assistance, please do not hesitate to contact me.
If you would like to work with a local life insurance broker, you could start with a Google search. For example, if you search for: life insurance broker Halifax or life insurance agent Halifax, my name, along with several others, will come up. You can use the same method to find a life insurance broker in your community.
Co-Founder, TermInsuranceBrokers.com, Goldenzweig Financial Group, Las Vegas, Nevada
Everyone will always have a need for some amount of life insurance for some length of time. There really isn't any type of person that doesn't need life insurance. Many people never think about all the uses for it or the needs that should actually have covered that aren't.
Commonly, you'll likely have a mortgage for a house, loans for cars, credit card debt, medical bills, burial expenses, etc., that you would like to have paid off in the event of your death so your family doesn't suffer financially due to the lost income. Another common use is income replacement (this is a common one that most people don't think about) so your family can maintain their current lifestyle rather than having to make dramatic changes.Many people may buy a life insurance policy for estate planning purposes so they can transfer assets at the lowest possible cost.In short, regardless of where you are in life, you will always have a need for some form of coverage.
I hope the input helps - please feel free to contact me with any other questions. Thanks very much.
.JPG){kind=avatar}
You buy life insurance because you care what happens to those you leave behind when you die - it is an unselfish act.
The specific reason for your buying depends on your individual circumstances and objectives. For example, it could be to protect you family , protect your businesses for your family and/or ensure your legacy. If there is a need for a death benefit, often there are living benefits for you. That means there could be something in it for you, in addition to peace of mind.
An independent broker, who represents several companies, can help you find the right policy at the right price.
If you have further questions, or feel that I could be of assistance, please do not hesitate to contact me.
If you would like to work with a local life insurance broker, you could start with a Google search. For example, if you search for: life insurance broker Halifax or life insurance agent Halifax, my name, along with several others, will come up. You can use the same method to find a life insurance broker in your community.
Commonly, you'll likely have a mortgage for a house, loans for cars, credit card debt, medical bills, burial expenses, etc., that you would like to have paid off in the event of your death so your family doesn't suffer financially due to the lost income. Another common use is income replacement (this is a common one that most people don't think about) so your family can maintain their current lifestyle rather than having to make dramatic changes.Many people may buy a life insurance policy for estate planning purposes so they can transfer assets at the lowest possible cost.In short, regardless of where you are in life, you will always have a need for some form of coverage.
I hope the input helps - please feel free to contact me with any other questions. Thanks very much.