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Many of us know the importance of life insurance, but still many choose not to be covered with it and ignore what the consequences will be if they die suddenly without insurance protection. Without a life insurance plan, it could be devastating to family survivors, leaving an enormous amount of finances to be settled or even worse, loss of a house because they cannot pay the monthly amortization.
Many people have no life insurance these days. According to the report by the insurance industry, 43% of the total population doesn’t have life insurance. It was learned also from the statement that most of us are badly in need of life insurance. Nearly 33% of Americans would feel the impact of the loss of job of the income earner within just a month.
Life insurance can pay off debts
Life insurance is vital for many of us because it can pay off debts that you will leave behind and can keep out the significant burden to the entire family. Debts you leave such as credit cards, car loans, mortgage, and even funeral expenses can have a substantial impact on the lifestyle of the family you leave behind.
The life insurance you currently have will ensure college education of your children, buy a new home and it can even shoulder wedding expenses in the event of your sudden demise.
Family members can have peace of mind
If you want to know an inexpensive way to get life insurance, get a term life insurance as it can give your family members peace of mind, knowing that they are financially protected if in case something will happen to you. You don’t have to worry anymore of their future and the financial benefit your family will get can make your life easy knowing they will be able to continue their growth normally.
The cash value of your life insurance policy can accumulate that you can use it to borrow money from a financial institution you choose. This policy can also be used as an add-on to your retirement if some of your investments won’t work.
Regardless of your purpose of getting a life insurance policy, whether to borrow against a cash value of the plan or to fund a business, this will make you understand how important is life insurance.
At Employee Solutions Group , we aim to provide comprehensive insurance policies that make your life easier. We want to help you get the insurance that fits your needs. You can get more information about our products and services by calling our agency at (833) ESG - SERV. Get your free quote today by CLICKING HERE.