If you are considering getting life insurance in Huntsville, AL, but still on the fence, you may need to learn a bit more about reasons to get it. When it comes to life insurance, some people might feel as if it is unnecessary, but once you read the reasons below, you may think differently.
1) You Will Pay for Your Funeral
Some people think it is a bit morbid to talk about funerals and death, but the truth is, it is a part of life…and an expensive part. Funerals can cost thousands of dollars. Is that something you want to leave to your loved ones to take care of? If you have life insurance in Huntsville, AL, you will be able to cover that yourself.
2) You Can Pay Off Your Mortgage
If you happen to pass away while your family is still living at home, think about what a comfort it would be for them to not have to worry about paying off the mortgage. Many times, a life insurance policy will be more than enough to not only cover the mortgage on your home, but you can be sure that your family will be taken care of without your income helping them along.
3) It Can Pay for a College Education
Of course, no one wants to think that they won’t be there for their children, but unfortunately, that happens. If you have school aged children and something happens to you, your life insurance payout could ensure that your kids will get the college education they need to make something of themselves. Without that money, college can be extremely expensive.
4) You Can Borrow From the Policy
Life insurance isn’t only beneficial after you die, it can also be beneficial in life, as well. For instance, you can borrow against your life insurance policy while you are still alive. This money can be used for any number of reasons from helping you during financial hardship or as a loan to start your own business.
5) You Can Protect Your Heirs From Taxes
By having life insurance, you will be able to guarantee that your family will receive their inheritance from your life insurance policy tax free. This will certainly save them thousands of dollars. On top of that, you won’t have to pay for carrying the policy since it is not considered income.
If you are purchasing life insurance visit EarnestJordanAgency.com to consider different insurance options that can protect you and your loved ones better future.