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Why Life Insurance is so Important

  • by secure_investors
  • Posted on 05 September, 2019

By Bryan Spencer, President

September is Life Insurance Awareness Month and while no one wants to think about their mortality it’s important to think of your loved ones if something happened to you. 

Most families depend on two incomes to make ends meet.  If your loved ones depend on your financial support, then life insurance is a must because it replaces your income when you die. This is especially important for parents of young children or adults who would find it difficult to maintain their standard of living if they no longer had access to the income provide by their partner. If you passed away tomorrow will your family be able to meet all of their financial obligations from the mortgage or rent, to daily living expenses such as daycare, insurance, utilities, credit card payments, or car loans?

Adults, no matter their age, should consider life insurance. While home and auto insurance are commonly part of life and monthly living expenses, another form of insurance which should be a top priority, if it isn’t already, is life insurance. It’s not always the most comfortable subject to discuss; however, every parent and working adult typically needs some type of life insurance policy.

Life insurance will give you peace of mind knowing that money would be available to protect loved ones and estate in a number of ways, including:

  • Paying for Final Expenses
    Funeral costs can be very expensive and run into thousands of dollars. Life insurance will prevent your family from suffering financially at a difficult time while dealing with a death.
  • To Replace the Spouse’s Income
    Most families depend on two incomes, not to mention if you lost a partner you may need help with caring for the children and domestic tasks. Perhaps your family’s primary caregiver may not be compensated in cash, but the care provided by them and the tasks they perform are of great value. That value should be protected in your family’s life insurance coverage. estimated the median annual salary for stay-at-home moms in 2019 is $178,201 – rising $15,620 (a 9.6% increase) from the 2018 mother’s worth calculation.
  • Finance Children’s Expenses
    From a personal perspective, as a father, I want to be sure my child is well taken care of and can afford a quality college education. For this reason, additional coverage is absolutely essential while children are still at home.
  • Paying Off Debts
    In addition to providing income to cover everyday living expenses, most families would need insurance to cover debts: mortgage, insurance, car loans, credit card payments, tuition, etc. Life insurance will cover these expenses.
  • Business Partnership
    If you own a business you will need to carry life insurance on your partner.  If your partner in business passes away, you will need enough cash to buy your partner’s interest from his/her heirs and pay their share of the company’s obligations without having to sell the company itself. Your partner would also need to carry insurance on you for his/her investment in the business.

Depending on the type of policy, life insurance is fairly cheap, which means there’s no excuse not to get coverage now. No matter what stage in your life you are in, Secure Investors Group has solutions to meet your needs and your budget. Plus, over the years, you’ll find comfort in knowing the money will be available to protect your loved ones in the event of your passing, remember it’s for them (your loved ones) and their peace of mind.


Feel free to call us at 248-435-0400 and request to speak a team member of Secure Financial Group