Top four reasons why you need permanent life insurance

Let’s face it. Permanent life insurance is not the most exciting thing to discuss, but it’s among one of the most significant elements of your financial plan if not the most essential. Speaking to an expert regarding permanent life insurance matters can surely help you make a sound decision when making your choice.

If you have been lucky to meet and interact with absolutely fantastic people from all walks of life you know that most of them have passed away. It’s always challenging to see family and friends struggling to raise money during trying times like this. Having seen many of these types of situations is among the many reasons why we chose to get into the life insurance industry.

We are enthusiastic about assisting people to get prepared, so when the unexpected happens, friends and family won’t have financial stress that follows shortly after. This post will delve into the four top reasons why you should consider having permanent life insurance as part of your financial plan.

Funerals are expensive

2Funerals have become an expensive affair according to the recent statistics collected by NFDA or National Funeral Directors Association. The average cost of a regular funeral, including embalming and a metal casket, is almost $7000. From our research, that represents a more fundamental coffin. Most statistics indicate the cost is closer to $10000 or even more in some cases. Many families don’t have that kind of money or more to dedicate to settling funeral costs, and they may be forced to look for financing from other sources or fundraise or get into debt paying for it. Don’t let your family cope with the added stress of finding money to settle the funeral costs.

Take care of business

This is permanent life insurance is an essential part of the large and small businesses. If you have been a business owner throughout your life, you can relate to the stress that comes with wondering about what would happen if the unexpected occurs. Ask yourself what would happen to your business and family if you die? What happens to the structure of the discussions if a key business partner dies? These are just some of the few things that you should consider when owning a business and thus you should take appropriate steps to protect your loved ones and those that depend on you.

Supplement retirement

Have you ever thought about increasing your retirement earnings with life insurance? Permanent life insurance, in particular, has both a living and death benefits. These kinds of policies can save cash that can be given at a later date to supplement retirement costs. Permanent life insurance policies are shielded from creditors, have small premium payments that will never increase, tax-free access and other many features and benefits.

Peace of mind

3A permanent life insurance plan will give you the piece of mind that whatever happens you have a plan in position to take care of your loved ones that you leave behind. Besides, you can donate a fraction of the proceeds to your favorite charity if you want. The assurance that your business will be taken care of and that you are leaving a good legacy behind is the best feeling ever.

Don’t hesitate to get permanent life insurance to shield your loved ones. For sure it will make all the difference.