12 Reasons Why You Need Life Insurance

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WHY YOU NEED
LIFE INSURANCE
12 REASONS

LIFE INSURANCE is important at every stage of life.
Making sure this is in order is the foundation of
FINANCIAL SECURITY for you and your family.
Whether you are married with kids or single and
launching your career, life insurance is for you. Here
are 12 REASONS to consider a life insurance policy.

COLLEGE EXPENSES
If you’re a college graduate,
you’re probably digging your
way out of student LOAN DEBT.
Or perhaps you’re a parent of a
recent college graduate. While
federal loans are discharged
after the borrower’s death,
parents and cosigners on private
student loans may still
RESPONSIBLE for the debt.

In the past 10 years
the median COST of a
FUNERAL including
both the viewing and
burial INCREASED by
nearly 30%
- National Funeral
Directors Association
(STAT)

If you wish to REPLACE YOUR INCOME FOR LIFE,
a good rule of thumb is to multiply your annual salary
by 17. So for example, if you make $60,000 a year
then your minimal life insurance policy amount should
be set for $1,020,000. If you are not looking to replace
your salary for life and simply want to COVER DEBT
and outstanding FINANCIAL RESPONSIBILITIES,
5 to 10 times the salary would work.
EMPLOYER PROVIDED
POLICY IS LIKELY MINIMAL
Source: http://www.doughroller.net/insurance/life-insurance/how-much-life-insurance-do-you-really-need/

The SOONER you purchase a
life insurance policy the BETTER.
Life insurance premiums are
typically dependent on age,
health, and lifestyle, so a few
years can make a difference in
the cost of premiums.
YOU’RE LOSING MONEY
BY NOT DOING IT

(STAT)
INCOME replacement was the
top REASON consumers gave,
for PURCHASING life insurance.
- LIMRA

Life insurance is yet another
way to transfer wealth to your
children. It’s COMFORTING
to know that life insurance
provides CASH BENEFITS
to your beneficiaries at a time
when it may be most needed.
TRANSFER WEALTH
TO CHILDREN

Life insurance is a simple answer
to one of life’s most difficult question:
Will my FAMILY be financially
SECURE when I die? Planning for
the FUTURE is precautionary
measure to one of life’s most
uncertain but inevitable moments.
DON’T PROCRASTINATE!
YOU NEVER KNOW

The last thing you want to leave
your loved ones with is the
FRUSTRATION of figuring out
how to pay for FUNERAL COSTS.
The National Funeral Directors
Association, the national cost for a
funeral is $8,508. Research
funeral costs in your area to make
sure you have enough to cover
expenses.
FUNERAL COST
ARE INCREASING

85% of Americans say
most people NEED life
insurance yet only
62% HAVE coverage.
-LIFEHAPPENS.ORG
(STAT)

If you own a SMALL
BUSINESS, a life insurance
policy could allow your
partners to SEAMLESSLY
purchase your portion of the
business and COMPENSATE
your heirs.
A SMART
BUSINESS MOVE

If you have an existing permanent life insurance policy,
it may be possible to ACCUMULATE cash value for
FUTURE retirement INCOME. For certain policies, like
whole life insurance, these funds can COMPLEMENT
401(k) plans, IRAs, and Social Security.
SUPPLEMENT YOUR RETIREMENT

Low cost, tax-free life insurance mortgage protection
can help PAY OFF or reduce the cost of your home. As
one of your family’s LARGEST ASSETS — and perhaps
largest financial responsibilities - ensuring that the home
is secured can prevent major asset loss.
MORTGAGE AND ASSET PROTECTION

Life insurance takes all of the
guess work out of the picture
and PROVIDES you with
PEACE OF MIND regarding
your family’s financial
FUTURE. You can be at peace
knowing they will be
economically SECURE.
THE PRICELESS GIFT
OF PEACE OF MIND

LIFE INSURANCE IS
FOR THE LIVING
In the unfortunate event of
your death, losing you will
be hardship enough for your
FAMILY without the stress of
managing FINANCIAL
WORRIES. Taking out a life
insurance policy prioritizes
your loved ones.

There’s no time like the present!
Life is unpredictable so why not
be prepared. LIFE INSURANCE
is an easy way to PROTECT
YOUR FAMILY during one of
life’s most difficult times.
Whether you are single,
married, just starting a family or
retired, a life insurance policy is
something worth considering.

SOURCES
• http://www.wbrinsurance.com/2015/08/why-do-i-need-life-insurance/
• http://www.wbrinsurance.com/life-insurance-2/
• http://www.wbrinsurance.com/contact-us/free-quote/
• http://www.usnews.com/education/best-colleges/paying-for-college/articles/2015/01/28/protect-cosigners-families-of-
student-loan-borrowers-with-life-insurance
• http://www.bankrate.com/finance/insurance/reasons-to-buy-life-insurance-now-1.aspx
• http://www.limra.com
• http://www.thefiscaltimes.com/Articles/2013/12/27/5-Reasons-Singles-Need-Life-Insurance-Too
• http://www.usnews.com/education/best-colleges/paying-for-college/articles/2015/01/28/protect-cosigners-families-of-
student-loan-borrowers-with-life-insurance
• http://www.doughroller.net/insurance/life-insurance/how-much-life-insurance-do-you-reallyneed/
• http://nfda.org/about-funeral-service-/trends-and-statistics.html#facts

12 Reasons Why You Need Life Insurance

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12 Reasons Why You Need Life Insurance