Here are four reasons why you should start thinking about what your death could mean to your family and why you need to protect them with life insurance in Pennsylvania or Arizona.
- Loss of Income - Your most valuable asset is your ability to earn an income. If you were to pass away unexpectedly, not only would your family miss you, but they would no longer have the income that you are currently bringing into the home. This could create a financial burden for the loved ones you leave behind. A big concern for many people is making sure that their family can still maintain the same lifestyle they currently enjoy even after they pass. Insurance is one of the best ways to make that happen.
- Paying for Final Expenses - Funerals these days can be pretty pricy, depending on what type of memorial service you want to have. A life insurance policy can cover these expenses for your family.
- Wealth Transfer - Many people who are around retirement age begin thinking about different ways they can take the wealth they have accumulated throughout life and pass that on to their children. Rather than go through all of the hassles of probate court and estate taxes, you can pass money on to your children through a life insurance policy
- Pay Your Mortgage - If you own your own home, it is critical to make sure that you have the mortgage loan protected with life insurance. Having a mortgage protection policy will guarantee that if something should happen to you, the mortgage will be paid off, enabling your family to keep living in their current home without worrying about meeting the monthly mortgage payment.
These are just a few of the reasons why you need to start planning for your family's financial future. Contact OHL Insurance & Financial Services to speak with an agent about finding the right type of insurance coverage for you and your family.