Why do we need life insurance?
Life Insurance
Why do we need life insurance in the first place? Changing lifestyles have brought in new requirements and necessities. Do you have anyone dependent on your income? What if your income stops out of nowhere? Does your dependent have another source of survival? If something unfortunate happens to you in the future, will your loved ones and family be able to manage everything financially without you? If your answer to these questions is a ‘NO,’ you need life insurance.
Life insurance protects you and your family and dependents financially if something happens in the future. I have heard numerous unfortunate stories of people suffering drastically because of a bad circumstance without a safety net. For example, one of my neighbors, who was doing great financially, lost her husband in an unfortunate incident. She and her three kids had to sell their house, move to a tiny place in a poor neighborhood, and give up most of their possessions to start a new life for themselves. I hope nobody gets into a situation like that. Protecting your family is always a good idea.
Life insurance protects your family financially and provides them with finances and an amount of money that would help them have a good life even if their income stops. Planning for the future is always a good way to ensure a good living for you and your loved ones.
Health Insurance
Also, I want to talk about health insurance. Have you been in a situation where you have been on a tight budget, and suddenly you come in front of a huge expense? The absence of health insurance can lead to a similar situation. You could have a major sickness requiring you to receive consultations, take medicines, and have doctor visits. Medical treatment is one of the most expensive costs in the US, so you must have coverage.
Health Insurance is not that expensive!
Furthermore, an unexpected situation, such as an accident or an injury may require you to undergo many treatments. These treatments would be inevitable and might cost you all your savings and a lot of debt. Health insurance asks you to pay a very low monthly premium, and in return, it would pay for most of your medical expenses. If you do not think the monthly premiums are worth enough for a one-time incident, think of it this way. You are paying as low as $12 per month for Obamacare, which is $144. This amount gives you coverage for any doctor visits throughout the year.
However, if you think you would save this amount instead and you do not need a doctor’s visit, going on a routine checkup is always recommended every year. If you get a regular blood test, routine dental checkup, and basic body checkup, you will recover your payment for the policy. Plus, this gives you security for any unfortunate incident or unwanted sickness.
Life Insurance Questions?
We hope that this information on life and insurance was useful to you.
If you’d like to learn how we can help you plan your retirement, call Empower Brokerage at (888) 539-1633 to speak to one of our Life and Annuity experts or leave a comment down below.
Get affordable life insurance quotes by clicking here.
See our other websites:
This article was updated 6/7/2024.