PROTECT YOUR FAMILY AND LOVED ONES - Cover your love!
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If your loved ones depend on your financial support for their livelihood, then life insurance is a must, because it replaces your income when you pass away. This is especially important for parents of young children or adults who would find it difficult to sustain their standard of living if they no longer had access to the income provide by their partner. You will also need to provide enough money to cover the costs of hiring someone to cover the day-to-day household tasks, like cleaning, laundry, cooking, childcare and everything else a growing family needs.
Life insurance is an expression of love and caring.
Because you care about your family, you want to ensure the financial security of family members if you’re suddenly not around to provide it. 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.
Should anything happen to you, the proceeds will help you keep the promises you have made to the people who are important to you. By protecting their financial future, you’re enabling your loved ones to maintain their lifestyle, if something unexpected should happen to you.
PAY OFF DEBTS AND OTHER EXPENSES - A great assistant!
In addition to providing income to cover everyday living expenses, your family needs insurance to cover any outstanding debts, like the mortgage, credit cards and car loans. Other expenses include funeral and burial costs that can easily run into the tens of thousands of dollars. You don’t want your spouse, parents, children or other loved ones to be left with any extra financial burden in addition to the emotional burden they’re already suffering.
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YOU'VE BUILT A LEGACY AND YOU WANT TO MAINTAIN IT? - You have a guard here!
Life insurance is a way to help you leave a legacy to your family and make sure their financial future is covered. With life insurance in place, your beneficiaries will receive a lump sum of money when you die. Normally, your beneficiaries won’t have to pay any taxes on the money they receive from your life insurance policy. What joyful news, because they’ll be able to enjoy the full value of the payment.
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Even if you don’t have any other assets to pass to your heirs, you can create an inheritance by buying a life insurance policy and naming them as beneficiaries. This is a great way to set your kids up for a solid financial future and provide for any monetary needs that will arise.
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