Is Life Insurance Really Necessary?

Life is expensive enough with mortgage payments, utilities, car payments, car insurance payments and credit card bills. It is natural not to want to add to any existing monthly bills and expenses. The thought of adding yet another bill to that list is often unwelcomed, especially if it is an unexpected bill. But, when that extra bill is a life insurance payment, this thought deserves a second look.

Funeral expenses are climbing each year. “If you have several thousand dollars set aside for a funeral, and many people do not,  it is easy to believe that you can do without the added expense of life insurance,” says Jeff Root of RootFin.com. Unfortunately, funeral costs often arrive with final medical bills. A spouse that dies unexpectedly also leaves his or her family without a significant portion of the income they relied upon to meet their monthly expenses and bills.

Life insurance payments take care of funeral costs, final expenses and regular monthly expenses. “Life insurance makes the difference between a family facing a potential financial crises versus a family that can endure the sorrow of the lost loved one without the added misery of being unable to pay the bills,” continues Jeff. “Life insurance premiums do not have to be exceptionally high in order to offer significant amounts of coverage.”

Review the many term life insurance policies available with a qualified insurance agent. Many policies offer nominal premium payments. The rates for the premiums are based on several factors such as age, health, coverage limits and the insurer themselves.

Obtaining a life insurance policy is an affordable way to gain peace of mind. In the event something does happen, a family is financially protected at an emotionally difficult time. All the while, the policy premium is low enough that it is easily incorporated into a monthly budget, making it an affordable necessity.