Life Insurance Is Not Just for the Family Man

Life Insurance
Life Insurance

There are many reasons why a person may consider getting life insurance. It’s a common notion that it is only for those who would leave someone behind. For example, a lot of people believe that you only need life insurance if you’re the breadwinner of the family, or if you have young children to support. This is not entirely true.

What Can Life Insurance Pay for?

Life insurance is not exclusively created to substitute for the income loss when a person passes away. Homemakers could also benefit from life insurance. In case of unfortunate events,  insurance can help pay for child caring costs, tuition of children, and household maintenance. Single adults who have student loan or mortgage that are due for an extended period of time are also excellent candidates. These debts can all be covered by the plan. Also, insurance policies can cover medical and funeral bills. It is also an avenue for you to donate charity as in the form of a last will. It is fair to say you can only do without a life insurance if your assets can cover all your debts and if you have no dependents to support.

Sometimes our other priorities seem to put getting insurance at the end of our list. It is often put after immediate needs such as food, rent, bills, or other expenses. Most people dedicate only a small fraction of our budget to purchase insurance, unless it is automatically provided for by the company as benefit. However, life insurance can be more affordable than you think.

Life insurance cost will depend upon a variety of factors such as liquid assets, household income, expenses, debts, age, and health. The higher your assets and lower your debts, the lower your premium. The same goes for income and expense. If you are younger and healthier you’re premium will be lower as well. Better Term Life calculator provides an estimate of how much life insurance you need. You could also get a sample quote from A-rated companies, based on the information you submitted.

How to Get Sample Quote

Thanks to information technology, a sample quote  is just a click away! And because of the internet, you can compare and choose from the most competitive insurance companies in the market. Credit rating bodies such as A.M Best also provide rankings of different insurance companies. Thanks to that, you will be able to do your research and find the most trustworthy companies. Getting insured is not only to protect your family but can help cover your debts and expenses left behind. Get a sample quote today from A.M.Best and start planning for your future.

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