Why do I need life insurance?

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FrankDBell Answered question June 16, 2019

Here are some reasons why you should get life insurance:

  1. You can afford life insurance: Now that people have longer life expectancies, insurance companies are charging less.
  2. College fees are rising: If you have children, you’ll want to secure their future and their education as early as possible. For the past few decades, college tuition has skyrocketed, along with the cost of books and other necessities.
  3. Life insurance can be an investment: Unlike in stocks, there is no volatility in life insurance. Compared with bonds, life insurance has minimal interest rate risk, and returns are usually tax-free.
  4. Leave a legacy to your kids: The cost of living in several cities across America is getting higher. What used to be enough to buy a decent home can only afford a small condominium nowadays. You should invest and save your money on life insurance now so there’s something your children can use afford a house or start their way to financial security.

Life insurance gives you peace of mind, knowing that the people you love won’t have to worry about finances.  Get started on your own life insurance plan by looking at this list of life insurance companies.

FrankDBell Answered question June 16, 2019
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