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The Importance of Insuring Every Part of Your Life and After

Ever find yourself questioning the expense of life insurance? Maybe wondering what the true benefits of life insurance happen to be? Well, you are not the only one. Results of a 2015 study showed that a majority of Americans who don’t have insurance believe that it is much more expensive than it really is. Additionally, it is presumed to be not needed by those who have never seen the expenses that are connected with death.

Life Insurance and Its Benefits

While Americans had previously believed that life insurance was more expensive than it is, by 2017 over 80% of the country surveyed stated that most everyone needs life insurance for some reason. While there may not be a reason for all people to have a life insurance policy worth hundreds of thousands of dollars, there is likely something existent in your life that requires some insurance. Whether there is some sort of debt, simply the expense of a funeral, or other estate need, even a small life insurance policy will be able to keep those amounts from falling on the family members left behind.

Additional Insurance Coverage

More than life insurance, there is much needed to protect every corner of life. Sometimes we all forget that the simple accidents of life can become so incredibly expensive, eventually building up further debt, and damaging our credit, that the monthly insurance payment is much more reliable to help maintain a safe and durable life. We all know the legally required types of insurance, including health insurance and auto insurance. However, there are many more that are required, either by your mortgage lender, landlord, and more.

So, you may not own a home, but if you rent a house or apartment it is a good idea to maintain renters insurance just in case you happen to cause any sort of damage to your landlord’s property. Life insurance and health insurance are important for either medical care, or post-life expenses, but there is the potential need for long term care insurance as well. Especially as you get older there is the potential need for an assisted living facility of some sort or even in-home care that may be extremely expensive.

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