5 Reasons Why LIfe Insurance Should Be A Must-Have As Part of Your Solid Financial Strategy

December 15th, 2020 by admin Leave a reply »

Money doesn’t grow on trees. Have your parents ever told you that before?

When you’re young it’s so easy to think that you’ll always be healthy and strong enough to work as hard as you do now.

If you live at home with your parents it’s very easy to think that… money grows on trees.

But the truth is that with all of the trees that are available in every country around the world… not one of them produces leaves that can be used as currency.

That being the case a serious question to ask yourself would be:”If I were to die tomorrow, could my family afford to pay the bills without me?”

Now I have to agree with you that no one likes to think about things like this, but when you consider the realities of life especially when you live among a high concentration of people in certain areas…

Not owning life insurance is a very risky proposition.

Listed below are 5 reasons why owning a life insurance policy can help you to strategically build a solid financial future.

1. First home – If you’re newly married or have been looking to move out of the apartment that has somehow gotten smaller over the years, you may be able to use some of the cash value from your policy to put a down payment on your first home.

2. Education – Tuition fees these days are absolutely insane with no guarantee of employment, but the fact remains that your children will have a better chance of securing a higher level of employment that can help them become self-sufficient in the long run.

3. Wedding – Somehow when you least expect it your little girl falls in love and utters those three magical words, “he’s the one”. You could just let her go to city hall and sign on the dotted line, but is that really how you envisioned giving her away?

4. Retirement – At last the day has arrived where you give your boss ‘his’ pink slip, but do you have enough retirement income to survive on over the next 10 to 20 years without needing to get a part-time job at your local fast food joint?

5. Death Benefit – These days life is moving faster than ever before and there’s no telling when something might happen. If it did, would your family have to go into debt to pay for your funeral expenses? Somehow I don’t think you want their memory of you to be linked to, the debt you left behind while they struggled to care for your funeral arrangements.

So how do these reasons support the case for life insurance being part of a solid financial strategy?

Simple, the objective for creating a financial strategy in the first place is to leverage your current assets to care for future expenses without ending up in debt. Having a life insurance policy can help you to avoid walking into that trap.

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