As a life insurance broker, this answer may be biased; but nonetheless life insurance is more about giving your family a gift that will last long after you pass.
Is it worth it? Depends on what kind of policy you have, if you have a policy that has a cash value, then you can do some amazing things (investments) with it and build your family wealth that can be passed down for generations.
Life insurance is critical for Low and middle-class Incomes. It can be the difference between a mother taking care of her children or having to make very hard decisions. Studies have shown that mothers with life insurance will remarry more than five years after the death of a spouse. Mothers without life insurance remarry within 18 months on average after the death of a spouse. Even a small $50,000 life insurance policy Can be life-changing for a family at a very critical time.
I'm a broker and work with a lot of investors and I can say those who think like an investor understand the value in a life policy. The return on the dollar if something happens when you are young is well worth it on a basic term. If you set up the right lifetime policy for you (or your business owns the policy for yourself or key staff) you can also create an investment or retirement income stream inside your life policy that allows you flexibility in your lifetime or better returns to your family. There is no client's family that ever said it wasn't worth it when someone passes, I have a lot of clients in struggle or regret when there is no life coverage in place. Just a thought!
Yes, it is worth it. If you do not have the money to cover all expenses, income and debts. It is recommended to cover someone with high responsibility. I do not recommend a permanent life insurance plan because if you are building your investments correctly, by the time retirement comes around, you should have enough to cover you if you live too long or the inevitable happens.
Life insurance is meant to replace your income should you die and you have others relying on your income. So if you're married, have little kids, you need 10-12x your salary. If anything happens to you, your spouse takes the payout, invests it, and lives off the proceeds which average 10%...so if you make $50k and have a $500-600k policy, your spouse can - on average - have $50-60k/year in interest to live off of. This is vital for my clients to have as a loss of a loved one (and income earner) can devastate a family. Find the cheapest policy you can and get yourself covered.
Life insurance gives you peace of mind that your family is taken care of should anything happen to you. It can help to maintain a roof over their heads; replace your income; send your kids to school and essentially allow you to still be there to help them even if you are not there physically. It is definitely well worth it. I have seen way too much unnessary hardship due to the lack of it.
Life Insurance is unless you like spending your own money. With life insurance, you give the insurance company a small premium and they give you a large payout back.
Life insurance saves the family's left behind, when tragedy occurs. Life insurance ensures that a family not loss their home (too many homes are lost because there is not policy in place). I have seen many families loss their homes due to medical expenses; especially when it can be avoided. Even the thought of leaving my family to pay for my funeral expense while grieving. I just cant see doing that to them.
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As a life insurance broker, this answer may be biased; but nonetheless life insurance is more about giving your family a gift that will last long after you pass.
Is it worth it? Depends on what kind of policy you have, if you have a policy that has a cash value, then you can do some amazing things (investments) with it and build your family wealth that can be passed down for generations.
Yes absolutely. I have a 30yr term with return of premium.
I have to say Yes! Ever family should have it.
I'm a broker and work with a lot of investors and I can say those who think like an investor understand the value in a life policy. The return on the dollar if something happens when you are young is well worth it on a basic term. If you set up the right lifetime policy for you (or your business owns the policy for yourself or key staff) you can also create an investment or retirement income stream inside your life policy that allows you flexibility in your lifetime or better returns to your family. There is no client's family that ever said it wasn't worth it when someone passes, I have a lot of clients in struggle or regret when there is no life coverage in place. Just a thought!
Yes, it is worth it. If you do not have the money to cover all expenses, income and debts. It is recommended to cover someone with high responsibility. I do not recommend a permanent life insurance plan because if you are building your investments correctly, by the time retirement comes around, you should have enough to cover you if you live too long or the inevitable happens.
Life insurance is meant to replace your income should you die and you have others relying on your income. So if you're married, have little kids, you need 10-12x your salary. If anything happens to you, your spouse takes the payout, invests it, and lives off the proceeds which average 10%...so if you make $50k and have a $500-600k policy, your spouse can - on average - have $50-60k/year in interest to live off of. This is vital for my clients to have as a loss of a loved one (and income earner) can devastate a family. Find the cheapest policy you can and get yourself covered.
Life insurance gives you peace of mind that your family is taken care of should anything happen to you. It can help to maintain a roof over their heads; replace your income; send your kids to school and essentially allow you to still be there to help them even if you are not there physically. It is definitely well worth it. I have seen way too much unnessary hardship due to the lack of it.
Life Insurance is unless you like spending your own money. With life insurance, you give the insurance company a small premium and they give you a large payout back.
Life insurance saves the family's left behind, when tragedy occurs. Life insurance ensures that a family not loss their home (too many homes are lost because there is not policy in place). I have seen many families loss their homes due to medical expenses; especially when it can be avoided. Even the thought of leaving my family to pay for my funeral expense while grieving. I just cant see doing that to them.