In the modern world, insurance services have become part of our everyday life. We insure our cars against theft, vandalism and accidents. Our electronics are insured against accidental damage and theft. Our health is insured against diseases, major illnesses and accidents of all kinds. Why then do we need life insurance cover? Here is why.
Death is a certainty of life, and the earlier we accept and embrace it, the easier it will be for our loved ones once we depart from this life. We all take time to plan for the various stages of life, and we should put in the same commitment and planning into our exit strategy out of this world. We never know when death will come. It is thus important that we take a life insurance cover, as protection against unforeseen eventualities in life. With a good life cover, you guarantee your family a cushion and safety against death.
Everyone wants to leave a good and enduring legacy in life. Sometimes funeral expenses may amount to thousands of dollars, thus leaving bereaved families with a heavy burden of huge financial debts. To avoid putting your family into such a precarious position, invest in a good life insurance cover. It may have a funeral expenses payment option, or clear funeral expense debts once the payment is done.
Family life comes with serious responsibilities. Providing a good standard of life is a struggle for most married couples with an average source of income. The death of the bread winner in a family may leave the family wallowing in poverty. A life insurance cover will substitute your source of income after death, thus protecting your family from the danger of being left destitute.
Life obligations and human needs mean that we always have fewer financial resources to take care of the recurrent financial needs. From business loans to mortgages, we all encounter financial debts in one form or the other. If we fail to plan in advance for such financial obligations, sudden death may live our families grappling with a myriad debts to service, thus compounding their grief and misery. A life insurance policy will cover your family against such eventualities.
The two things we cannot escape in life are death and taxes. The irony of it all is that some taxes follow us even after our deaths in the form of estate taxes. To avoid depleting your estate and living little behind for your family, invest in a good life insurance cover, it could come in handy in paying off your estate taxes.
That said, it is clear that a life insurance cover has become a basic necessity in the modern world. The need and importance of having such a cover can never be over emphasized. Invest in one today, and your offspring and future generations will be glad you took a bold step in covering them.