Everything Will Be Okay | Hitchings Insurance Agency
The journey through life is filled with many important financial decisions. Sometimes these decisions are ones we do not want to have to think about. However, they are necessary to make sure our loved ones are taken care of with reassurance that everything will be okay.
Enduring the loss of a family member is very difficult. As a result, we cling to the special moments and relive them through pictures and shared stories as tears well up in our eyes. We are never fully prepared for what life throws at us. So you may ask yourself, “How can I help make sure everything will be okay?” Thankfully, there are options to help provide some financial comfort and peace of mind.
Putting life insurance in place is one way to ensure that our loved ones will be taken care of the way they deserve. If someone depends on you, life insurance is important. You’re right! No one wants to think about it. Since September is Life Insurance Awareness Month, let’s review!
What is life insurance?
Great question! It is a form of insurance in which a person makes regular payments to an insurance company, in return for a sum of money to be paid to them after a period of time, or to their family if they die. Life insurance can help with the financial burden in the following ways:
- Cover funeral costs
- Provide for the future of children
- Pay off debt
- Allow continuation of current lifestyle
- Protect survival of a business
Who needs life insurance?
Some think life insurance is only necessary once you have children. Let’s think about this next question. If your spouse were here today and gone tomorrow, would you be able to afford your mortgage and car payment? What about monthly living expenses, student debt or credit card debt? Many couples operate with a dual income and these payments would be very difficult if it suddenly changed to a single income.
Married with Children
There is no doubt that life insurance is incredibly important if you have a family, or plan on having a family. Children require a lot of resources from the time they are babies until they have completed school and they are out on their own. As parents, we worry about our children forever. Consequently, life insurance helps reassure that everything will be okay for them.
If you own a business, what would happen to the business if your partner, key employee or you passed away? As the owner, you can buy life insurance on your partner or your key employee. This would allow you to continue the business in their absence.
How much life insurance is necessary?
There are several items to consider here, such as the following:
- Cost of funeral expenses
- Final medical bills
- Outstanding debts
- Future income needs
You do not have to figure this out on your own! A professional, trusted life insurance agent can help review these items to determine what an appropriate amount of life insurance would be for you, as well as what type of life insurance would fit your needs the best.
Almost 9 in 10 Americans agree that most people need life insurance, yet just 60% say they have it! Join us and proudly #TakeThePledge if you believe in protecting your family with life insurance. Then you can say you have done your part to make sure everything will be okay. If you are still not quite sure, take a moment to watch this video.