Life insurance is that one thing that everyone needs but only a few people know and have. And we are one of the Best Insurance brokers in Calgary. It will be easy and more beneficial if you purchase a policy when you are young and healthy. The longer you wait the more are the chances of you getting unhealthy.
These are the 10 reasons why you need life insurance:
1. Replace Lost Income
If your family solely relies on your income, then you should consider buying life insurance; with this your family will be financially secured after your death. Life Insurance Policy pays the whole coverage amount to deceased’s family.
2. Funeral Expenses
Cover your Burial Expenses with life insurance; we all know that a simple funeral can cost you thousands of dollars. Life insurance will give you a guarantee to lift the burden from you and your family for your funeral services. It is possible to pay for your funeral expenses ahead but only a few people think about that.
3. Pay your Debt
After you die your loans will be passed on to your spouse and they will have to pay them all by themselves, Harpinder Sidhu will help you purchase life insurance, so you can leave your problems and let the insurance policy handle your loans/debts.
4. Educational Planning
There are many ways to save and pay for your Childs education fees. Life insurance will take care for the fees of their education after your death. We know that your absence will be emotional, and you would not want them to have more problems by adding up debts.
5. Create Cash Value
Term life insurance is a type of life insurance that will help you family for a specific time whereas a whole life insurance will provide permanent assistance that will only end if you decide to stop it. Whole insurance will allow you to save cash. This can be useful in case of emergency.
6. Diversify Investments
Other people use life insurance as an investment tool with the universal life policy. These types of policies are tied to some investment products, you will be paid depending on the performance of the that investment in stock market. Before you buy this type of insurance make sure that you know the risks and returns of it.
7. Business Planning
When you own a business, life insurance can be helpful if you pass away suddenly. Life Insurance can help your business cope through this. This type of insurance will cover your obligations up to the secured amount so that your hard work will not be wasted or terminated. If it is a Partnership then its very important for the partners to have this type of insurance so that if one of them passes away, the other partner will not face any debts.
8. Estate Taxes
When someone passes away, their heirs often face estate and inheritance taxes on any assets they receive. If you’re worried about your loved ones getting hit with a big tax bill, a life insurance policy can help cover these additional costs.
9. Coverage is Affordable
One thing that most of the people think is that life insurance is expensive but that is not right. The coverage is affordable. Term Insurance is less expensive than the whole or universal insurance. If you are young and healthy your premium will cost less unless you are smoking or have any health-related problems.
10. Peace of Mind
No one knows what will happen in the future. But if you have a life insurance you know that your loved ones are financially protected. A small insurance policy can also make a big difference. This allows you to sleep at nights without worrying about your family’s protection if something unexpected happens to you.
Do you have enough coverage that allows you to live your best life with your family? If not, contact Harpinder Sidhu, the Best Life Insurance broker in Calgary. Get a free quote from the most reliable Insurance Broker in Calgary. So, what are you waiting for? Call us now at (403) 404-3500