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Buying life insurance is a very important financial decision. Life insurance policies cost less the younger you are. If you are young and single, you can lock in low rates for the rest of your life when you buy life insurance policy. Waiting until later in life to buy life insurance is usually a mistake because they are expensive the older you get.
Here are reasons to buy life insurance now.
Since nobody can predict when the inevitable happens, it pays to prepare for it. Buying life insurance ensures that your final expenses will not become a burden on your family. Life insurance policies provide coverage for funeral expenses and ensure your spouse and family will not be burdened by this expense.
Life insurance policies are aimed at those left behind after the death of the policy holder. They provide financial assistance during this most difficult time. Life insurance could help pay off your mortgage, pay your child’s college tuition or provide for your spouse and children after your untimely death.
Every person wants to know that their loved ones will not suffer terrible financial loss after their death. One way to ensure this is to take out life insurance. Death benefits will be paid to your dependents in case of death. This ensures your family will be provided for after you or the policy holder is gone
When you purchase whole life insurance policy, you pay higher premiums than your policy actually requires. The difference is invested by the insurance company on your behalf. This accrues cash value over time that you can borrow against. You can also sell the policy or draw monthly income from the whole life policy.
As Americans, we are continually looking for ways to save tax free. The death benefits paid to beneficiaries after the death of policy holders are tax-free. This makes buying life insurance policies worthwhile.
Life insurance benefits can used to pay off debt incurred by the policy holder. If there is no life insurance, all debt incurred will have to be paid off by your spouse or other family members.
Finally, buying life insurance policy gives you peace of mind knowing that your family’s financial future is secure upon your death.
In Katy, Texas, call the life insurance specialists at Katy Texas Insurance Agency at 281-398-1010 or toll-free 1-877-952-1010 and we will gladly explain the full benefits of life insurance to you. We can also help you buy the best policy at the lowest price.