Following you through life stages – here’s why you should consider life insurance. Which one is you?
Single – do I need life insurance?
Do you have outstanding debts which a parent or someone else may be held responsible for? Do you have a sibling or even a parent that depends on you? Do you have a favourite cause or charity that you want to leave something to? Another good reason to purchase now vs. later is the younger you are – the better the life insurance rates are.
Married, two incomes and no children – do we need life insurance?
As you are both pooling your resources and dividing up expenses – with suddenly having just one income, will this be enough to pay off debts like student loans, outstanding credit card bills, car payments, rent or mortgage and utility bills?
I /we have a young family – do we need life insurance?
Could your family continue living the way they are now and in the future on one income? As well, taking into account the additional cost for childcare, along with the support needed though no “hard cost” is associated today, these expenses could be incurred in a one parent household. From mortgage to secondary education would your family’s financial security be jeopardized? If yes, then a life insurance policy is essential.
Retired empty nesters- do I/we need life insurance?
From estate taxes to covering final expenses and ensuring that there will be no negative financial impact should you die; a life insurance policy and its tax-free benefits can look after this and provide peace of mind for you (and your family). If someone will suffer financially when you die, then the simple answer is yes, a life insurance policy will most definitely make a difference.