7 Reasons To Consider Life Insurance

Tucker Fahlen |

Despite the fact that many people feel (and sometimes act) like they are invincible, the reality is that life happens and tragic events are unpredictable. Life Insurance may not be a "fun" conversation to have but sitting down with a professional who has your best interest in mind can help put you in control of protecting your family, business, and legacy. Here is a list of 7 compelling reasons why should consider life insurance or review your current coverage to determine if it's enough.

| To Protect Loved Ones

Day in and day out you work hard to make sure those you love -- spouse, children, and family members -- are well provided for and taken care of. It's just as important to plan ahead and make sure their needs are taken care of without you. Afterall, you don't buy life insurance because you are going to die but because those you love are going to live.

| You're Not Growing Younger

People often hesitate to buy sufficient life insurance because they are young and healthy could never imagine anything going wrong. However, anything could happen and if you develop a serious illness, you may not be able to obtain life insurance coverage to the extent you need it -- or at all. Not to mention life insurance is the most affordable while you are young. It's best to lock in a low rates while you're young and healthy.

| Death Shouldn't Lead to Debt - Leave a Legacy

Funerals are expensive, with an average burial ceremony costing about $15,000, your life insurance can take care of any expenses during an already emotionally difficult time for your loved ones. Life insurance should take care of any financial responsibilities left behind to surviving dependents after your death. Leaving behind a mortgage or any other unpaid debt can leave loved ones in with stressful financial obligations. Choose to leave a legacy that can wipe out any of these obligations and go beyond by helping pay for your surviving child's increasing education expenses.

| Taking Care of Business

Life insurance isn't just for individuals to protect their loved ones. It can also help protect a business that you've worked so hard to build. Life Insurance can protect a business from financial loss during the loss of an owner or key-employee.

| Charitable Giving

Life insurance is a great tool to transfer wealth. All life insurance proceeds are tax-free to the beneficiary. If most of your personal insurance needs are covered, consider designating some or all of your life insurance death benefit as a gift to your favorite charity. This can allow you to leave behind a generous gift that is larger than you might otherwise set aside to donate.

| Coverage isn't as Expensive as You Think

A recent study from LIMRA and the nonprofit insurance education group Life Happens found that 80 percent of consumers have the wrong idea about what life insurance costs. Millenials for example believe that life insurance premiums are 3 times more expensive than they actually are. Of course, prices vary depending on age, gender, and health but life insurance premiums are often typically less expensive than other types of insurance.

| Peace of Mind

No amount of money from a life insurance death benefit could ever replace someone you love. However, it can provide great amounts of protection and leave you with peace of mind that you have a plan in place for those that you care about. Leaving a legacy of financial stability for your family is a top priority for many - obtaining the proper amount of life insurance will ensure that your family has what they need to thrive!

Contact Tucker Fahlen with Embark Financial Partners to get a free quote today! Tucker can be reached at 616-600-9905 or at tucker@embarkfp.com.